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Asia Gold: Price dip fails to spur India retail demand; China premiums dip
Gold demand in India slightly improved this week after prices corrected from a record high but retail purchases remained lower than normal prompting dealers to widen discounts, while demand in China also suffered with premiums edging lower. In India, the world’s second-largest gold consumer and a major importer, domestic prices were trading around 71,500 rupees per 10 grams on Friday, after hitting a record high of 74,442 rupees earlier this week. Gold prices have come down, but retail consumers are still waiting on the sidelines, expecting an even bigger fall, said Ashish Pethe, partner at Waman Hari Pethe ... (full story)