Hmm..Gold price dipped but did not spur demand

Gold prices in India eased but the drop wasn't enough to bolster demand in the world's top consumer as people held off buying during year-end holidays and an inauspicious month for purchases.It has been suggested that price may see improvements (in India) after Khar Mass. Khar Mass stretches from December 16th to January 14th - a month not considered auspicious for gold buying and starting new ventures. A Reuters poll conducted earlier this month, revealed the expectation of many: that gold prices are expected to fall below $1500 an ounce over the next three months till late 2012. However, there are also views to the contrary on the back of europe's economic woes as well as the US's.