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Asia Gold: India flips to discount after festivals; premiums rise elsewhere as prices ease
Gold was sold at a discount this week in India for the first time in seven weeks, as demand slowed after key festivals, while premiums ticked higher in other top Asian hubs following a pullback in global rates that lifted activity. Indian dealers offered a discount of up to $12 per ounce over official domestic prices, inclusive of 6% import and 3% sales levies, down from last week's premium of up to $25. "Price volatility has slowed demand, and some investors are cashing in by selling coins they bought for a profit," said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji. Domestic gold ... (full story)
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Today you will see GOLD price prediction based on the technical analysis. What is the support and resistance on the daily time frame for XAUUSD. What to expect where the price will breakout for the XAUUSD based on the supply and demand zones.
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