MUMBAI/BENGALURU Physical gold demand in Asian hot spots slouched this week as higher global prices made buyers hold off on purchases and as discounts in India widened to their highest in 6-1/2 months.
MUMBAI/BENGALURU Weaker demand in India prompted gold dealers to offer discounts for a second week straight, as a drop in local prices to 2-week lows and a festival failed to lure buyers.
Gold prices were flat on Wednesday, hovering near a one-week high on a weaker dollar following U.S. Secretary of State Rex Tillerson's sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite.
NEW YORK/LONDON Gold prices turned positive on Tuesday as the U.S. dollar lost ground after news that U.S. President Donald Trump replaced Secretary of State Rex Tillerson, while U.S. inflation data was in line with forecasts.
BENGALURU/MUMBAI Physical gold demand in most Asian hubs gained ground this week due to a fall in prices and as activity picked up following regional holidays, although a good portion of consumers in India held off purchases, hoping for a steeper dip in rates.
BENGALURU/MUMBAI High local prices hit physical gold demand in India this week while activity in most other Asian centres remained subdued due to the Lunar New Year holiday.
BENGALURU/MUMBAI Physical gold demand in Asia picked up towards the end of the week, as a pullback in prices spurred purchases ahead of the Lunar New Year in China and the wedding season in India.
BENGALURU/MUMBAI Demand for physical gold improved this week in India as jewellers resumed purchases after the government kept import taxes on the precious metal unchanged, while buying remained subdued in most other centres in Asia.
BENGALURU/MUMBAI Gold demand in China firmed this week as retailers stocked up ahead of the Chinese New Year while price discounts widened in India, partly on expectations of a reduction in import duty in next month's budget.
BENGALURU/MUMBAI Demand for physical gold remained lacklustre across top Asian centres this week as buyers were put off by a rally in prices, but an approaching Chinese New Year could reignite appeal for the yellow metal.