Global price disruptions will keep Indians, the world's biggest gold buyers, away from jewellery stores for at least the next few weeks until demand is likely to rise with the onset of the traditional festival and wedding seasons.

Zaveri Bazaar, India's biggest bullion market in the financial hub Mumbai, drew only a trickle of buyers on Monday as the country's benchmark gold futures hit a new peak of 25,180 rupees ($562.87) per 10 grams.

Gold prices in India have gained 21 percent so far this year. In the capital New Delhi, jewellery stores appeared deserted.

Idle employees at one store watched TV news reports about bullion roaring to record highs after a downgrade of the U. S. credit rating.

International spot gold was up 2.5 percent from Friday at $1,704.19 an ounce by 1135 GMT, having hit a record $1,715.01 earlier and having traded at all-time highs in sterling and euros.

While global financial uncertainties weigh on Indian buyers' minds, persistent high inflation in Asia's thirdlargest economy has left little spare cash to buy gold. Small investors have also been reluctant to take cash out of Indian shares, which have over five straight sessions on fund selling.

Traditionally in India, retail gold demand gains pace from the month of August when the festival and wedding seasons start, culminating with the Diwali festival of lights in October.