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Indian gold prices hit record high, dampening demand

Local gold futures rose to 56,245 rupees per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020.

January 13, 2023 / 15:51 IST
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Local gold futures rose to 56,245 rupees ($691.45) per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020, signalling that the yellow metal is getting traction among buyers as a safe investment bet.
Local gold futures rose to 56,245 rupees ($691.45) per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020, signalling that the yellow metal is getting traction among buyers as a safe investment bet.

Indian gold futures hit a record high on Jauray 13, tracking gains in overseas market and weakness in the dollar index.

However, the rise in price dampened demand in the world's second biggest consumer of the precious metal.

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Local gold futures rose to 56,245 rupees per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020, signalling that the yellow metal is getting traction among buyers as a safe investment bet.

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