India gold prices hit all-time high, dampens retail demand – ZAWYA

India gold prices hit all-time high, dampens retail demand – ZAWYA

india gold breaches key psychological level, dampening demand the price rise has been dampening retail demand    file photo: a salesman shows a gold necklace to customers at a jewellery showroom in ahmedabad, india, oct. 25, 2019. mumbai -gold prices in india rose above the psychologically important 50,000 rupees level for the first time on wednesday, as expectations of more stimulus to resuscitate pandemic-hit economies lifted the metal's appeal as an inflation-hedge.local gold futures reached an all-time high of 50,085 indian rupees ($671.61) per 10 grams on wednesday, taking their gains to 28% in 2020 after rising a quarter in 2019.however, the price rise dampened retail demand for gold in india, the world's second largest consumer of the precious metal.local gold futures reached an all-time high of 50,085 indian rupees ($671.61) per 10 grams on wednesday, taking their gains to 28% in 2020 after rising a quarter in 2019.mumbai -gold prices in india rose above the psychologically important 50,000 rupees level for the first time on wednesday, as expectations of more stimulus to resuscitate pandemic-hit economies lifted the metal's appeal as an inflation-hedge.however, the price rise dampened retail demand for gold in india, the world's second largest consumer of the