Gold dealers in India this week offered the biggest discounts in nearly nine months as retail demand continued to remain muted due to coronavirus restrictions. A discount of up to $12 an ounce was offered by gold dealers over official prices, versus $10 discounts last week, according to news agency Reuters. But with many states announcing unlocking process in a phased manner, retail demand is expected to pick up in India. On MCX, gold futures settled near ₹49,000 on Friday after a volatile week. Gold prices have been volatile over the past one month on concerns that faster economic growth would spur inflation that leads governments and central banks to withdraw support.

Source: Mint June 05, 2021 10:52 UTC