 "Gold eases from three-week high, importers seek more")
Gold futures in India eased from their highest level in nearly three weeks on mild profit-taking, with importers seeking higher price declines before booking the yellow metal ahead of weddings next month.
* India, the world's biggest buyer of gold, has been trying to curb the imports to put a lid on the record-high current account deficit. The federal government raised the import duty on gold, which it called a dead investment, by 50 % to 6 % in January.
* "There is no business at all because of financial year-end, due to liquidity constraints," said Haresh Acharya, head of bullion desk, Parker Bullion in Ahmedabad.
* At 4:00 p.m., the actively traded gold for immediate delivery was 0.32 % lower at Rs 29,763 per 10 grams, after hitting a high of Rs 29,889 in the previous session, a level last seen on March 1.
* However, in the overseas market, gold held steady near a three-week high as Cyprus' rejection of bailout terms rekindled worries about the stability of the euro zone, boosting bullion's safe-haven appeal.
* The rupee, which traded almost flat, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* Silver for May delivery on the MCX was 0.22 % lower at Rs 54,589 per kilogram.