India shifts to discount; gold buying tapers off elsewhere as prices gain
In India, the world`s second-biggest consumer of the metal after China, gold was being sold at a discount of up to $2 an ounce over official domestic prices this week, compared with a premium of $1 last week. The domestic price includes a 10 percent import tax.
The Indian rupee was trading around 71.93 after hitting a record low of 72.92 per dollar earlier this week. Image source: Reuters