India gold discounts hit record 200 dollars per ounce
Indian gold discounts hit a record 207 dollars an ounce after a duty hike to 15 percent. Investors sold holdings as prices rose and retail demand stayed low.
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India gold discounts hit a record $207 per ounce on Wednesday after a sharp import duty hike triggered investor selling. The gap widened from $17 on Tuesday as local prices surged 7.2% following the tax increase. Widening discounts between official and physical market rates signal tightening liquidity in the world's second-largest gold consuming market.
