High Gold Prices Keep Demand In Check; India Discounts Narrow - Commodity Market Tips

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. We are seeing more of selling because of higher prices, people are taking profit on physical (gold).

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