Indian gold eases further from three-week high

MUMBAI, Jan 7 (Reuters) - Gold futures in India eased further from their highest level in three weeks, in line with global markets, though a weaker rupee limited the downside.

* The actively traded gold for February delivery MAUc1 on the Multi Commodity Exchange (MCX) was 0.22 percent lower at 28,910 rupees per 10 grams at 1033 GMT, down from a high of 29,276 in the previous session, a level last seen on Dec. 16.

* Silver for March delivery MSVc1 on the MCX was down 0.41 percent at 45,185 rupees per kg.

* On COMEX, February gold GCcv1 was down 0.08 percent at $1,237 an ounce.

* The rupee, which weakened on Tuesday, plays an important role in determining the landed cost of the dollar-quoted yellow metal. Href="NewsSearch">INR/

* "Supplies are available to limited players and not all," said Haresh Soni, chairman of the All India Gems and Jewellery Trade Federation, adding premium was up to $130 an ounce on London prices.

* Indian gold imports may fall 70 percent in the final quarter of 2013 from 255 tonnes in the year-ago period and are expected to be half the usual levels at 500-550 tonnes next year if new import rules are maintained, a top trade body official said. News Search ID:nL5N0JL2N5

* To curb a rising trade gap, the Indian government slapped a record import duty of 10 percent, and tied imports for domestic consumption with exports. However, the government has indicated easing of restrictions to check smuggling.

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* Following were the prices of gold and silver in rupees as of 1315 local time in the spot market, quoted by HDFC Bank:

Tuesday Monday

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Gold .999/10 grams 27,678 27,530

Silver .999/kg 45,280 44,850

(Reporting by Siddesh Mayenkar; Editing by Prateek Chatterjee)

((siddesh.mayenkar@thomsonreuters.com)(+91-22-61807163)(Reuters Messaging: siddesh.mayenkar.thomsonreuters.com@reuters.net))

Keywords: MARKETS INDIA PRECIOUS/