Wednesday, March 23, 2011

Indian Physical Gold Buyers Stay Away Dure To Alternative Supply

According to a Reuters report webbed by Moneycontrol, Indian gold traders are still not booking deals through regular channels because gold from alternate sources of supply is still cheaper.
"There are no buyers in the market as they are getting a discount of Rs 5,000 per kg to the bank rate in the local market," said a dealer with a state-run bullion importing bank.
There's no indication of how large that discounted gold supply is, not how temporary.

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