Gold discounts in India rise to highest in 2 months

 

Discounts offered by gold dealers in India this week widened to the highest in about two months, Reuters reported. Discounts on gold in India rose up to $32 an ounce over official prices that include a 12.5% import duty and 3% GST. Even though jewellers reopened stores in some parts of the country this week, physical demand was weak. Gold imports in May plunged 99% in May from a year earlier.

On MCX, gold futures fell sharply on Friday to settle at ₹45,732 per 10 gram while silver rates slumped to ₹47,337 per kg.