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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold premiums hit record in India

Posted on 16 October 2013

Gold premiums in India, the world’s biggest buyer of the precious metal, hit a record $100 an ounce, about 8 per cent over London prices, on a shortage of supplies to meet festival demand, traders said on Tuesday.
Banks, the primary dealers of bullion, are currently importing the yellow metal chiefly for exporters, as under the so-called 80/20 principle, jewellery exporters get priority for supplies over domestic manufacturers………………………………………..Full Article: Source


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