Gold prices near 2-week high,sales down up to 30

A stronger rupee kept the upside in the yellow metal limited. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.

8220;Gold volumes are not high compared with last week. Sales are down 25-30 percent as gold prices are up,8221; said a dealer with a state-run bank in Mumbai.

The recent 20 percent drop in prices had triggered a buying frenzy among importers. India will celebrate Akshaya Tritiya next month,while weddings will continue till June or July.

Premiums are expected to ease from a high of 10 an ounce on London prices seen last week.

8220;Premiums should come down from the current 4,8221; said the dealer.

The most-active silver for May delivery on the MCX was 0.53 percent higher at 45,285 rupees per kilogram.