Asia Gold: Price retreat buoys demand in India; activity muted elsewhere | Metals Mine

  • Asia Gold: Price retreat buoys demand in India; activity muted elsewhere

    From brecorder.com

    Physical gold demand in India improved slightly this week as a price pullback lifted buying interest among consumers, while activity in other top Asian hubs remained lacklustre. Gold prices in India closed at 99,838 rupees ($1,139.61) per 10 grams on Thursday after hitting a record high of 102,250 rupees last week. “Many retail consumers are waiting for a price correction, but with prices steady around 100,000 rupees for the past few months, some buyers have begun purchasing,” said a Mumbai-based jeweller. Indian dealers offered discounts of up to $6 per ounce to official domestic prices, inclusive of 6% import ... (full story)

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