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Gold demand in Asia softens on higher prices, slow holiday trade

In Tokyo, gold was sold at par to a 25-cent premium to spot this week, largely unchanged due to a quiet market ahead of the year-end holidays


Gold demand across major centres in Asia were subdued ahead of the holiday weekend as a modest rebound in prices weighed on investor appetite. Spot gold prices rebounded to the highest in two weeks at $1,268.91 on Thursday after sinking to a five-month low last week. In top consumer China, premiums quoted this week were about $10 an ounce to the global benchmark, little changed from last week's $9-$10 range. "There hasn't been much activity because we've already seen lower levels," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong ...

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First Published: Fri, December 22 2017. 16:01 IST