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Asian gold markets rebound on strong retail buying in India and China
Gold prices saw a bounce-back in key Asian markets this week, trading at a premium in India and China for the first time in roughly two months, as a recent price correction from all-time highs spurred a revival in retail demand. Indian dealers moved from offering a discount of up to $61 last week to charging a premium of as much as $15 per ounce over the official domestic prices this week, according to a Reuters report. This shift in pricing includes the standard 6% import and 3% sales levies. Domestic gold prices were trading at approximately 136,700 rupees per 10 grams on Friday. This follows a record high of ... (full story)