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High gold prices keep demand in check; India discounts narrow


By Rajendra Jadhav and Arpan VargheseMUMBAI/BENGALURU (Reuters) - Demand for physical gold in Asia remained lacklustre this week as high prices kept consumers on the sidelines while discounts in India narrowed ahead of a festival season that could reignite buying interest.Dealers in India were offering a discount of up to $4 an ounce this week, down from an $8 discount last week.Recent price strength has dulled Asian demand, one Hong Kong-based trader said. "We are seeing more of selling; because of higher prices, people are taking profit on physical (gold)." In India, demand could improve ...

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First Published: Fri, September 15 2017. 18:48 IST