Alternative Energy

Asian gold prices dip props up demand, Indians await lower prices

BENGALURU/MUMBAI: Gold demand in most Asian centres firmed this week, spurred on by a dip in prices although buyers in the world’s second-biggest consumer India held off buying in the hope of further falls.

Spot gold touched $1,235.92 an ounce this week, its lowest level since July 20.

“Very good demand (in Asia) this week. Prices below $1,250 an ounce a clear buy signal for many,” said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. ..

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