A sustained record rally in domestic gold prices crippled the typical busy wedding season demand in India, with dealers forced to offer heavy discounts this week while scrap supplies piled higher. Domestic prices in India, the world’s second-largest gold consumer, were near an all-time high of 66,943 rupees per 10 grams hit last week, following a similar rally in global benchmark spot prices driven by bets for U.S. interest rate cuts, central bank buying and safe-haven demand. “Record high prices have screwed wedding season demand. Those needing to make purchases are just exchanging old jewellery for new jewellery,” ... (full story)