China discounts narrow to $16-$20/oz from $19-$24 People too cautious to spend savings right now -dealer Spot gold prices on track for 3rd consecutive weekly gain
BENGALURU/MUMBAI, Dec 18 (Reuters) - Physical gold in India was sold at a discount for the first time in six weeks as a rebound in local prices to a one-month peak squeezed demand, while purchases slowed in other Asian hubs ahead of the year-end holidays. India’s local gold futures jumped to 50,642 rupees per 10 grams on Thursday, the highest level since Nov. 18.
“Demand is very subdued. Retail buyers are postponing purchases because of a price rise,” said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji.
Indian Gold Dealers Offer Discounts For First Time In Six Weeks As Buying Slows Spot gold prices were on track for their third straight weekly gain, having hit a one-month high of $1,895.81 on Thursday
Updated: December 18, 2020 7:41 pm IST
India s gold futures jumped to Rs 50,642 per 10 gm on Thursday, the highest level since November 18.
Physical gold in India was sold at a discount for the first time in six weeks as a rebound in local prices to a one-month peak squeezed demand, while purchases slowed in other Asian hubs ahead of the year-end holidays.
India s local gold futures jumped to Rs 50,642 per 10 grams on Thursday, the highest level since November 18.
Indian gold dealers offer discounts for first time in six weeks as buying slows 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.