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Asia Gold-Indian dealers offer discounts; China sees seasonally soft demand
Physical gold was sold at a discount in India for the first time in six weeks, as a weaker rupee drove up prices and in turn moderated demand, while top consumer China saw seasonally slow demand. Domestic prices in India MAUc1 rose to 76,800 rupees per 10 grams on Friday after falling to 74,852 rupees earlier last week. Jewellers were not making purchases as the rupee fell to a record low, making imports even more expensive, said a Mumbai-based dealer with a private bullion importing bank. The rupee dropped to a lifetime low of 84.7575 against the U.S. dollar this week. Indian dealers offered a discount XAU-IN-PREM ... (full story)
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- Posted: Dec 6, 2024 3:21am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 156
