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Gold discounts in India deepen as volatility hurts demand; purchases in China steady
Gold traded at a wide discount in India this week as price volatility weighed, while demand in China remained steady with the country's central bank reporting its largest monthly increase in gold reserves in more than 2-1/2 years in June. International spot gold prices slipped to a two-week low, retreating from an over 2% jump last week. Domestic gold prices in India were also trading around 144,800 rupees per 10 grams on Friday, after rising to 148,069 last week. "Buyers are now waiting for a bigger drop in prices before making purchases," said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji ... (full story)
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From brecorder.com | 7 hr ago
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