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Stock Advisory in Indore, Gold demand in Asia softens on higher prices, slow holiday trade
In Tokyo, gold was sold at par to a 25-cent premium to spot this week, largely unchanged due to a quiet market ahead of the year-end holidays
Gold demand across major centers in Asia have subdued ahead of the holiday weekend as a modest rebound in prices weighed on investor appetite.
Spot gold prices rebounded to the highest in two weeks at $1,268.91 on Thursday after sinking to a five-month low last week.
In top consumer China, premiums quoted this week were about $10 an ounce to the global benchmark, little changed from last week's $9-$10 range.
"There hasn't been much activity because we've already seen lower levels," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.
There was also little demand due to a stronger yuan this week, Leung said.
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