Gold Price Volatility Weakens Demand in India as China Premiums Ease
Global gold market activity faced pressure this week due to sharp price fluctuations impacting consumer demand in India and softening premiums in China. In India, gold traded at significant discounts, with dealers offering up to $78 per ounce off official domestic prices, a notable improvement from the previous week's record discounts. The Indian government's recent increase in import duties to 15 percent and consumer caution due to price volatility contributed to delayed purchases. In China, gold premiums eased slightly to between $10 and $20 per ounce over international benchmarks, influenced by concerns over rising interest rates, bond yields, and a stronger US dollar.
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