Indian dealers offered a discount of up to $14 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, unchanged from last week.
"Local gold prices have been rising more than global prices in the last few days due to the depreciation of the rupee to a record low. This has been dampening demand," said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji.
The Indian rupee depreciated to a record low this week, effectively making imports more expensive.
This story is from the January 04, 2025 edition of Hindustan Times West UP.
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This story is from the January 04, 2025 edition of Hindustan Times West UP.
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