Indian gold demand weakens as China premiums climb
Indian gold demand fell this week due to volatile global prices. China saw premiums rise to $20 an ounce as traders stockpiled ahead of the May Day holiday.
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Gold demand in India slowed this week as domestic prices reached 150,300 rupees per 10 grams. Indian dealers cut premiums to a range of $5 discount to $9 premium, down from last week's $15 peak. High prices and a weak rupee are suppressing retail volume in the world's second-largest bullion market.
