India gold discounts widen as demand slackens post-festivals; China activity cools

From kitco.com

Physical gold demand in India remained subdued this week as volatile prices deterred buyers from making purchases and prompted dealers to offer steep discounts to lure them, while demand cooled in China on changing tax regulations. Indian dealers were offering a discount of up to $14 per ounce over official domestic prices, inclusive of 6% import and 3% sales levies, up from the last week's discount of up to $12. Investment demand was the key driver last month, but now even investors are staying on the sidelines, waiting for a clear price trend, said a New Delhi-based jeweller. Global spot gold prices were on track ... (full story)