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Asia Gold Record high gold prices add to post-festival lull in India demand

Indian buyers brushed off record high local prices this week making gold purchases during the Diwali festival week in the country, while China premiums remained buoyant after the top-buyer continued to accumulate gold holdings. Local gold prices were trading around 60,900 rupees($731.81) per 10 grams on Friday after hitting an all-time high of 61,914 rupees($744.00)this week. Sales of coins and bars picked up from the last weekend, while demand for jewellery also improved, said a Mumbai-based bullion dealer with a private bank.

Indian buyers brushed off record high local prices this week making gold purchases during the Diwali festival week in the country, while China premiums remained buoyant after the top-buyer... -November 17, 2023 at 06:55 am EST - MarketScreener

Discounts on physical gold were highest in seven weeks in India as sturdy domestic rates restricted purchases, while premiums in China swung higher this week on some demand optimism flowing from...

Premiums on physical gold in China eased off recent highs this week as safe-haven buying cooled on hopes that stimulus could help the top bullion buyer's ailing economy.... -Today at 07:35 am- MarketScreener