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Gold discounts widest in 9-month as higher prices tempered retail purchases

Gold was being sold at a discount in Indian markets for the sixth straight week

Reuters  |  Mumbai/Bengaluru 

Gold discounts in India were at their widest in nine months this week as higher domestic prices tempered retail purchases, while buying in other Asian centres remained subdued amid a lack of significant momentum in global prices. Dealers in India were offering a discount of up to $7.50 an ounce over official domestic prices this week, the highest since September 9. This compared with discounts of $5 last week. The domestic price includes a 10 percent import tax. Gold was being sold at a discount in Indian markets for the sixth straight week. "Jewellery showrooms were deserted. Retail ...

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First Published: Fri, June 15 2018. 02:00 IST
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