Gold discount in India jumped to highest in 10 months as record high prices hit domestic sales. Dealers last week offered discounts of as much as $42 an ounce over official domestic prices as compared to a discount of $24 in the previous week, Reuters reported. As India imports most of its bullion requirement, domestic prices include 15% import duty and 3% GST. February gold futures on MCX had risen to record high of ₹57,125 per 10 gram last week, before settling at ₹56,900 at the end of the week.
Article Source:Money Control