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India’s gold market update: high prices tempering demand in Q4
The gold price has surged since the beginning of October, although not uniformly across currencies. A decline in bond yields, with markets pricing in an easier monetary policy environment, geopolitical tensions and US dollar weakness have all boosted investor appetite for gold, lifting its price. From early October to mid-December, the LBMA Gold Price PM rose by 11% to US$2,032/oz.2 The Indian gold price witnessed a similar rise (up 11% to Rs54,233/10g),3 driven by the stable domestic currency. With regard to other currencies, the gold price4 rise in the euro, British pound, Japanese yen, Swiss franc and Australian ... (full story)