Gold discounts in India jump to highest in 10 months as prices hover near record highs
After posting a double-digit return in 2022, gold prices have continued it strong run in January.
Gold discount in India jumped to highest in 10 months as record high prices hit domestic sales. Dealers last week offered discounts of as much as $42 an ounce over official domestic prices as compared to a discount of $24 in the previous week, Reuters reported. As India imports most of its bullion requirement, domestic prices include 15% import duty and 3% GST. February gold futures on MCX had risen to record high of ₹57,125 per 10 gram last week, before settling at ₹56,900 at the end of the week.
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