In India, the world’s second biggest gold consumer, discounts narrowed as jewellers started buying for the festive season. Dealers were offering a discount of up to $52 an ounce over the global spot benchmark, down from up to $60 last week.
India’s gold demand may rise in the second half of 2016 after falling to the lowest in seven years in the first half as monsoon rains spur rural demand during the peak festive season, the World Gold Council said on August 11.
Gold, often perceived as a hedge against financial uncertainties, has risen 27 percent this year to trade at $1,347 an ounce on Friday, and is on track for its biggest annual gain since 2010.
Bullion was sold at 25 cents per ounce discount in Tokyo, unchanged from last week.
For more information and best NIFTY FUTURES TIPS Call us ✆ – 0731-6642300 or Visit http://www.epicresearch.co
Connect with our social media sites
Follow @Epic_Research
Connect with our social media sites
Follow @Epic_Research
Sign up here with your email