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India gold discounts ease on festive demand; China premiums ease
Gold discounts in India eased this week from near decade-high levels hit last week, helped by festive buying and a sharp correction in prices, while premiums in China declined as physical demand softened. Bullion dealers in India this week offered discounts of up to $75 per ounce over official domestic gold prices – inclusive of 6% import and 3% sales levies, down from discounts of up to $83 last week, the highest since July 2016. "Retail buying picked up due to Gudi Padwa and Ugadi festivals, but it was still much lower than usual," said a Mumbai-based jeweller. The festivals were celebrated earlier this week, ... (full story)
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