In spite of the recent drop in gold prices in India to slightly over Rs 14,200 per 10 grams, most gold dealers opine that buyers are still not tempted enough to go in for substantial purchases because they are possibly waiting for the prices to fall further.

A majority of market players project that waiting for a couple of weeks more might turn out to be beneficial for prospective buyers. Though gold has fallen by over 12 percent in the past month-and a-half, largely due to a stronger rupee, there is still scope for correction in terms of prices of the precious metal, since buying gold in full-swing for the forthcoming wedding season is yet to kick off.

A bullion dealer at a government bank said that gold sales are still "moderate," with the demand having picked up last week, as traders refreshed their stocks to cater to the demand for the wedding and festival season, to commence in mid-April and Akshaya Tritiya, which falls on April 27.

And going by the opinion of Prithviraj Kothari, a Mumbai-based bullion broker, the wait may well be worth it! Kothari, who expects a fall in gold prices, said: "Prices could further correct to Rs 13,000 to 13,500 levels as the sentiment in equity market has improved lately."