Asia Gold-Discounts in India widen to near 1-month high as demand falters reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
MUMBAI: Physical gold demand crept up this week in top hubs India and China though dealers were still forced to offer discounts, while businesses limped back to life in India as some COVID-19 restrictions were eased. Some Indian states have begun easing restrictions as infection cases abate. “Slowly, businesses are opening up in a few states. As new coronavirus cases are
Jewellers lift shutters; discounts prevail in top hubs
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Jewellers lift shutters; discounts prevail in top hubs
Reuters / Jun 12, 2021, 17:36 IST
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Some states have begun easing restrictions as infection cases abate. Slowly, businesses are opening up in a few states. As new coronavirus cases are falling, expectations are most states will ease restrictions in the next few weeks, said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions.
Dealers offered discounts of up to $12 an ounce over official domestic prices, inclusive of 10.75% import and 3% sales levies. That was unchanged from last week, a level of discount not seen since mid-September 2020.
Gold and silver prices went in opposite directions on Friday, with the yellow metal failing yet again to hold a break above $1900 while the more industrially-useful precious metal rose above $28 per ounce for its highest weekly finish since last August s 7-year high