MUMBAI (Reuters) - India gold demand remained weak for the second session on Wednesday 28 April as prices traded near their four-month highs struck in the previous session, dealers said.

"Offtake is very little today on a sudden spike in prices," said a dealer with a state-run bank in Mumbai.

International gold, which guides the domestic markets, was trading $1,165.05/1,165.85 an ounce as against the previous close of $1,168.03/1,170.03.

"I have a few orders below $1,150," said another dealer with a private bank.

Gold eased in early European trade, but held around last session's near four-month high as debt problems in Greece and Portugal prompted investors to embrace safer assets.

A weaker rupee, which makes the dollar-quoted asset expensive, also hit sentiment, they said.

The rupee weakened weighed down by a more than 1 percent fall in domestic shares after the sovereign rating downgrades of Greece and Portugal raised fears the euro zone's debt problems were spreading.