Top Asian hubs saw some selling of physical gold this week as people cashed in on relatively high prices, with lacklustre demand during the wedding season in India prompting dealers to offer steeper discounts. The bullion industry was hoping the momentum seen during the festival of Diwali would continue, but higher prices seem to be hampering wedding season demand, said a Mumbai-based bullion dealer with a private bank. Local gold prices in India were around 61,100 rupees per 10 grams on Friday after hitting a record high of 61,914 rupees last week.
Top Asian hubs saw some selling of physical gold this week as people cashed in on relatively high prices, with lacklustre demand during the wedding season in India prompting dealers to offer. -November 24, 2023 at 08:28 am EST
- MarketScreener
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