Thu Feb 19, 2009
There are hardly any buyers and all were sellers," said Mayank Khemka of Khemka International in Delhi.
"They don't want to replenish stocks as well as whatever existing inventory is still lying unsold," Khemka added.
"Any correction to 13,500 (rupees) would be a good level to buy," added Khemka.
Traders said the flow of scrap gold continues as consumers cash in on the record-high prices.
"There are around 60-70 people in queue outside and inside my shop," said Jitendra Kantilal, a partner at Zaveri Bazaar-based scrap buyer, Jugraj Kantilal & Co..
Kantilal added "some of the sellers now expect prices to touch 16,500, and that's why they are not selling."
Following were the prices being quoted by HDFC Bank in rupees in the spot market at 1:15 p.m.
Try looking in the phone directory or classified ad's of your local newspaper for scrap metal dealers, also some jewelers might take this off your hands, i would check what it's weight is worth then you can get an idea of how much to expect. Gold Buyer
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