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Asia gold price dip props up demand, Indian buyers await lower prices

In India, a fall in gold prices to the lowest level in five months failed to lift physical demand

Reuters  |  Bengaluru/Mumbai 

Gold demand in most Asian centres firmed this week, spurred on by a dip in prices although buyers in the world's second-biggest consumer India held off buying in the hope of further falls. Spot gold touched $1,235.92 an ounce this week, its lowest level since July 20. "Very good demand (in Asia) this week. Prices below $1,250 an ounce a clear buy signal for many," said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. In top consumer China, premiums rose up to $9-$10 an ounce over the international benchmark, from $6-$9.50 last ...

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First Published: Fri, December 15 2017. 20:29 IST