Physical gold buying in India, the world's biggest buyer of bullion, stayed lacklustre as traders sought larger price falls to stock for the peak wedding and festival seasons, dealers said.
The most-active gold for June delivery on the Multi Commodity Exchange (MCX) was 0.22% lower at Rs 28,497 per 10 grams following weak global markets and a stronger rupee.
"Gold sales are not on expected lines. People have to show more adjustment to current price levels," said Harshad Ajmera, proprietor of JJ Gold House from Kolkata, adding additional buying could come in at Rs 27,500.
Wedding season is at its peak now, and Akshaya Tritiya, one of the biggest gold buying festivals, falls later this month.
Gold in the overseas market edged down weighed by a stronger dollar, but safe-haven demand could keep a floor under prices.
The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, also weighed on sentiment.
Silver for May delivery on the MCX was 0.39% lower Rs 55,700 per kg.
