Gold was sold at a discount to official prices in India this week for the first time in six weeks, while demand elsewhere in Asia remained subdued as surging bullion prices turned off buyers. “Physical buying was very weak as prices jumped from around $1,250 this week.
People are not interested in chasing prices at these levels and retail buying will pick up only around $1,200 levels,” said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. “The holiday mood also weakened buying ahead of Easter.”
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