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MCX Gold demand at Indian spot market remained subdued on Tuesday, hammered by a rise in prices due to firm overseas markets and a weak rupee, just ahead of the lean buying season. More information visit my site stock-trade-tips.blogspot.com

* The most-active June delivery on the Multi Commodity Exchange (MCX Gold) was up 0.43% at Rs 29,080 per 10 grams by 5 p.m.

"Buyers are not interested in purchases above Rs 29,000. They are waiting for prices to correct," said a Mumbai- based dealer with a private bank dealing in bullion.

"Jewellers are holding back purchases. They want to restock at lower level. They are not in hurry as monsoon season is approaching," he said.

Global MCX gold rose back above US 1,576 an ounce on Tuesday, tracking gains in the euro as the single currency edged off two-year lows against the dollar.

* The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, fell on Tuesday, snapping three sessions of gains.

* MCX Gold demand in India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the country said earlier this month.

MCX Gold: While MCX gold prices in the international Stock markets closed in the negative territory in the last week, prices on the domestic bourses ended on a flat note. Rupee depreciation helped contain losses in the domestic markets and this in the past few weeks has been a major factor that has helped support prices despite a downward trend in the global markets. More Information about stock tips visit my site stock-trade-tips.blogspot.com

From the short-term perspective, we expect the Rupee factor to continue to be supportive for Indian Stock MCX gold prices. The commodity in the international markets is performing largely like a risky asset and downside risks remain on the back of worsening macroeconomic concerns along with strength in the US Dollar Index.

Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, declined around 1 percent to 1,270.27 tonnes on 25th May 2012 from the previous level of 1,282.95 tonnes on 18th May 2012.

MCX Silver: Spot MCX silver prices declined by 0.8 percent in the last week on the back of fall in MCX gold prices coupled with downside in base metals. Additionally, a stronger dollar index also exerted downside pressure on prices of the commodity. On the domestic front, prices traded on a flat note on account of depreciation in Indian Rupee and closed at Rs.54,448/kg on Friday.

On a weekly basis, holdings in the iShares MCX Silver Trust, the world's largest silver-backed exchange-traded fund, increased around 0.3 percent to 9,664.30 tonnes on 25th May 2012 from the previous level of 9,649.22 tonnes on 18th May 2012.