A customer looks in a mirror after wearing a gold earring inside a jewellery shop in Hyderabad
India's gold buying edged up for a second day on Wednesday as international prices steadied, with traders eyeing the rupee for direction, dealers said.
"I booked for a few clients in between $1,224-1,227 (an ounce) levels," said a dealer with a state-run bank in Mumbai, which deals in bullion.
"Buying is happening in small quantity, I have taken some deals," said a dealer with a private bank.
International gold traded flat, as improving risk appetite and concerns that recent gains were overdone, offset a rise in ETF holdings.
Gold traded at $1,221.20/1,222.00 an ounce at 1:05 p.m., as against the previous close of $1,222.90/1,226.90.
"I have a number of orders in at around $1,210 levels," said the dealer at the state-run bank.
Ramalinga Raju (C), founder and former chairman of fraud-hit Satyam Computers, is escorted from a court in Hyderabad
A court on Wednesday granted bail to former chairman and founder of Satyam Computer Services Ramalinga Raju in a case of accounting fraud that turned out to be India's biggest corporate scandal, television channels said.
The bail was granted by a court in Hyderabad on health grounds, the reports said.
Raju, a management graduate from Ohio University who founded Satyam in 1987, shocked investors in January 2009 when he said profits of the company had been overstated for years and assets were falsified. He has been in police custody since the revelation.
Raju's lawyer was not immediately available for comment.
In April, Central Bureau of Investigation said it had filed charges against nine people including Raju for alleged involvement in accounting fraud at the outsourcing firm.
A nearly 200 ton nuclear reactor safety vessel is erected at the Indira Gandhi Centre for Atomic Research at Kalpakkam, Chennai
A parliamentary panel on Wednesday recommended changes to a bill aimed at opening up India\'s $150 billion nuclear power market, which included trebling the accident compensation burden and extending the liability cover to private suppliers.
The panel, formed by the government after political opposition to the bill, presented its recommendations to parliament on Wednesday.
It suggested the bill, which will facilitate the entry of firms as US-based General Electric and Westinghouse Electric, a subsidiary of Japan\'s Toshiba Corp, fix the liability cap on the state-run operator at $320 million.
The recommendations, if accepted, would mean higher costs for private firms by way of higher insurance premiums, but will bring in policy clarity which will help speed up projects.
The original draft law
People pass by an electronic board displaying graphs of Japanese stock indices outside a brokerage in Tokyo
World stocks dipped on Wednesday, dragged lower by losses in Europe, partly caused by energy shares taking a beating from the weaker oil price.
Shares of global miner BHP Billiton remained in focus, falling on concerns that it may have to overpay for Canadian fertiliser group Potash Corp after the Canadian group rejected an initial offer.
The dollar was about 0.1 per cent higher against a basket of major currencies while the euro was pressured as concerns about debt in the single currency zone persisted.
Europe's FTSEurofirst 300 was down 0.8 per cent, dragged lower by energy stocks. The STOXX Europe 600 Oil & Gas index was down 1.7 per cent.
An industry report signalled petroleum inventories in top consumer the US were headed for a record, following an unexpected sharp increase in crude stocks last week.
A man walks out of the head offices of BHP Billiton in central Melbourne.
BHP Billiton, the world's biggest miner, launched a hostile $39 billion bid for Potash Corp after the Canadian fertiliser group's board rejected this year's biggest takeover offer.
BHP Billiton said on Wednesday it was making its $130 a share offer directly to shareholders, bypassing Potash Corp's board which a day earlier called the bid 'grossly inadequate'.
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