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India gold demand firms ahead of festival; China premiums ease

From kitco.com

Gold demand in India picked up slightly this week ahead of a key festival, although elevated prices weighed on sentiment, while premiums in China narrowed as retail demand slowed. Akshaya Tritiya, the second-biggest gold-buying festival in India after Dhanteras when buying gold is considered auspicious, ​will be celebrated on April 19. "Retail buyers have started making bookings for the Akshaya ​Tritiya festival, but footfalls are far lower than normal. They are struggling ⁠to adjust to higher prices," said an Ahmedabad, Gujarat state-based jeweller. Domestic gold prices in India ​were trading around 152,800 ... (full story)

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  • Category: Fundamental Analysis