Gold demand slowed in India this week as buyers postponed purchases on expectation of a cut in import duty and after a rebound in prices, while it was tepid across other major trading centres in Asia. 

In India, the world's second-largest consumer of the metal, dealers were charging a premium of up to $2 an ounce this week over official domestic prices that include a 10 percent import tax. The premiums were at $1 last week.

"Buyers are anticipating a cut in import duty in the budget. That is prompting them to delay purchases," said Daman Prakash Rathod, director at wholesaler MNC Bullion in the southern Indian city of Chennai. 

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Gold was trading around 28,665 rupees per 10 grams on Friday. It fell to 26,862 rupees last month, the lowest level since Feb. 2, 2016.