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Price recovery dampens Asian gold demand

Reuters  |  MUMBAI/BENGALURU 

By Rajendra Jadhav and Vijaykumar VedalaMUMBAI/BENGALURU (Reuters) - Gold demand in Asia was mostly subdued this week as buyers stayed on the sidelines due to a rebound in bullion prices.The international benchmark spot gold gained nearly 2 percent this week, on track for its biggest weekly gain since mid-April as political turbulence in the United States triggered safe-haven demand. Bullion prices have risen about 3 percent since hitting an eight-week low of $1,213.81 on May 9."When compared with last year, physical demand in Asia has not picked up for the same period in 2017. There could be ...

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First Published: Fri, May 19 2017. 16:36 IST
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