Gold demand in India, the world's biggest buyer of the metal, rose on Wednesday as prices eased following a drop in the world market and on a firm rupee. The actively traded gold contract for February delivery on the Multi Commodity Exchange (MCX) was 0.48 percent lower at 30,705 rupees ($560) per 10 grams as of 0951 GMT.

Overseas gold slipped in thin trade as uncertainty over whether the United States would be able to avoid a fiscal crisis kept investors at bay, but lower prices spurred buying from jewellers. The March silver contract on the MCX was down 0.36 percent at 57,520 rupees per kg.

Copyright Reuters, 2012