Seasonal demand for gold in India plummeted amid rising prices for precious metals

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Gold buyers in India, in spite of the approaching season of festivals and weddings, have postponed the purchase of the precious metal due to the internal price increase. High prices have reduced the demand for gold, despite the discounts offered by dealers to the maximum value of $7 per troy ounce since mid-June. Buyers are waiting for adjustments, and jewelers predict poor sales even during the festival period. Weak demand for gold is also noted in China, where prices rose by $70 per ounce compared to August.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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