Gold recovers from one-month low

MUMBAI-INDIA  (Sept 17)    Gold futures rose more than one percent on Tuesday, recovering from their lowest level in more than a month, helped by overseas leads, and a weaker rupee at home.

* The actively traded gold for October delivery on the Multi Commodity Exchange (MCX) was 1.07 percent higher at 30,107 rupees per 10 grams, after hitting a low of 29,400 rupees on Monday, a level last seen on August 16.

* Overseas gold edged higher on Tuesday as the dollar remained under pressure.

* The rupee fell the most in two weeks, making the dollar-quoted asset expensive.

* Domestic buying remained muted despite the approaching peak festival and wedding season.

* Importers are examining new guidelines from the customs department issued on September 4 before shipping new lots.

* Silver for December delivery on the MCX was 0.40 percent higher at 50,030 rupees per kg.