MUMBAI, May 20 (Reuters) - India's spot gold demand remained weak on Thursday 20 May weighing on prices, a day after some brisk buying, dealers said.

"Yesterday there was some buying at dips..but these prices will not attract genuine buying on a sustained basis," said a dealer with a private bank.

Indian prices touched fresh highs earlier this week and are close to their highest levels tracking overseas markets, where the yellow metal has become the flavour of the season as parts of Europe battle an ongoing debt crisis, analysts said.

India's price-sensitive customers, who drive the global gold demand, stayed away during the gold buying festival of Akshaya Tritiya on Sunday 16 May, an indication demand may remain subdued through the rest of the year if global prices continue to stay firm.

International gold gained on Thursday 20 May but hovered around $50 below its record high, while the world's largest gold-backed ETF rose to a lifetime high as investors sought safety from turmoil in the financial markets.