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Gold demand eases on higher prices

Physical gold sales eased in Asia this week as steadily higher prices kept buyers on the sidelines and premiums remained mostly unchanged across the continent. 

 

In India, the world's second-largest consumer of the metal, higher prices prompted retail buyers to postpone purchases for wedding season. "The volatility in prices is confusing buyers. Many buyers are waiting for prices to stabilise,"

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said Harmesh Arora, a Mumbai-based bullion dealer. In local market gold prices were trading around 28,365 rupees per 10 grams on Friday, after falling to 26,862 rupees last month, the lowest level since Feb. 2 last year.

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