Discount on cost - 8% price rise crimps gold demand further

The 8 per cent sudden rise in gold price from the year's low a month ago to Rs 26,895 per 10 gm on Wednesday has crimped consumer demand, say officials from two of India's lead ing jewellery companies. This, they added, is reflected by gold in the local market trading at a discount of US $1-1.5 an ounce (around 31.1 gms) to the metal rate quoted by banks....Read More