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Record gold rally cools Indian buying; China discounts narrow
Gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week's five-year highs. "People are in a festive mood and travelling, so they are not interested in making purchases at these record-high price levels," said a jeweller based in the eastern Indian city of Kolkata. Domestic gold prices hit a record high of 139,286 rupees ($1,550.34) per 10 grams on Friday, following a rally in international spot gold rates. Spot gold notched an all-time high of $4,530.60 per ounce, driven by ... (full story)
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