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gold export

Asia Gold-Demand plunges in pandemic-battered India
Markets

Asia Gold-Demand plunges in pandemic-battered India

  • Indian jewellers have also stopped making purchases- dealer.
  • India discounts widen to $3/oz versus $2/oz last week.
  • China, Japan return from holidays, but demand muted.
  • Hong Kong premiums at $0.8-$1.8/oz, Singapore at $1.5-$2.0.
Published 07 May, 2021 05:29pm
Spot gold still targets $1,746
Markets

Spot gold still targets $1,746

  • After breaking above $1,716 and a falling trendline, the metal pulled back towards this former resistance and the line.
  • A break below $1,716 could cause a fall to $1,691. On the daily chart, gold has broken a resistance at $1,724. It is poised to rise towards $1,769.
Published 06 Apr, 2021 10:43am