India gold discounts ease on festive demand and price drops
Indian gold discounts narrowed this week as festive buying and lower prices spurred interest. Premiums in China declined as physical demand cooled slightly.
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Gold discounts in India narrowed this week as a combination of festive celebrations and a significant price correction spurred retail interest. Dealers offered discounts of up to $75 per ounce against official domestic prices, which include a 6% import levy and 3% sales tax. This represents a slight recovery from the previous week's discount of $83, which marked the highest level seen since mid-2016.
