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Asia Gold: India discounts widen to two-month high on price surge, weak demand

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By Rajendra Jadhav and Karthika Suresh NamboothiriMUMBAI/BENGALURU (Reuters) - Gold discounts in India widened to a two-month high this week as prices surged to a more than six-month peak and demand remained subdued due to New Year holidays.Benchmark spot gold prices were headed for a third straight weekly gain due to concerns over a slowdown in global economic growth, and tumultuous stock markets. Dealers in India were offering a discount of up to $6 an ounce over official domestic prices this week, up from a discount of $2 last week. The domestic price includes a 10 percent import tax."In ...

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First Published: Fri, January 04 2019. 15:18 IST