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Gold's latest fall fails to bring back Asian buyers

India and China are the world's two top consumers, so their retail appetite plays a key role in international gold prices

Reuters  |  Singapore 

Gold's plunge to three-year lows last week is drawing a muted response from Asian consumers and not a repeat of the buying frenzy seen in April, as India's curbs on trade of the precious metal and renewed concerns about China's growth dent demand. India and China are the world's two top consumers, so their retail appetite plays a key role in international gold prices. A drop in gold prices in April to a then two-year low unleashed years of pent-up demand, triggering a wave of buying of coins and jewelry across Asia. With much of that demand sated, an even deeper price ...

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First Published: Tue, June 25 2013. 22:21 IST
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