MUMBAI (Reuters) - Gold futures in India hovered near their lowest level in four weeks, while premiums charged in the physical market still stayed near the record.
* At 4:33 p.m., the most-active gold contract for February delivery on the Multi Commodity Exchange (MCX) was 0.16 percent lower at 28,908 rupees per 10 grams, after hitting a low of 28,842 rupees, still near the level last seen in mid-November.
* Silver for March delivery on the MCX was 0.41 percent lower at 43,871 rupees per kg.
* To keep a lid on the record trade deficit, India's government slapped a record import duty of 10 percent, and tied consumption for domestic users with exports.
* "There is not much demand, and supplies are very, very tight...," said a dealer with a state-run bullion importing bank in Mumbai.
* The World Gold Council cut its forecast for Indian gold demand to 900 tonnes from the earlier 1,000 tonnes, predicting the country could also lose its place as the world's biggest consumer of bullion to China.
(Reporting by Siddesh Mayenkar; Editing by Prateek Chatterjee)
