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Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore.
NEW DELHI: Physical gold demand in India gained momentum this week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver. Gold futures in India were trading around Rs 46,000 per 10 grams, not far from the eight-month trough of Rs 45,861 touched last week. "Consumers are quite comfortable with current price level. There is good demand for jewellery from retail buyers," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the city of Kolkata. He added the Rs 50,000-mark is a psy...
* Chinese net gold imports via Hong Kong fall in January * Indian jewellers aggressively building inventory- dealer Feb 26 (Reuters) - Physical gold demand in India gained momentum this week as retail buyers and jewellers lapped up bullion at near eight-month low prices, while Singapore continued to see steady interest for both gold and silver. Gold futures in India were trading around 46,000 rupees per 10 grams, not far from the eight-month trough of 45,861 rupees touched last week. “Consumers are quite comfortable with current price level. There is good demand for jewellery from retail bu...
* Physical silver demand more than doubled since Thursday - dealer
Silver rallies as it sees fresh interest from WallStreetBets The GameSpot stock market saving swoop by WallStreetBets has unleashed a beast with the market mania spreading to silver too. PUBLISHED BY WallStreetBets has unleashed a beast with the market mania spreading to the precious metals too. Silver rallied 7.4% to a near six-month peak on Monday after social media posts called for retail investors to flood into the market. Spot silver hit its highest since Aug. 11 at $28.99 an ounce earlier in the session. Silver has risen nearly 15% since Thursday, when posts on Reddit started urging in...