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GOLD: Weekly Analysis & Intraday Update

Physical gold demand in India remained sluggish this week as the rally in local prices to near record highs discouraged buyers during the year-end holidays, while other Asian hubs also saw subdued demand.

In India, local gold prices (MAUc1) were trading around 63,350 rupees ($762.10) per 10 grams on Friday, not far from the record high of 64,460 rupees ($775.45) hit earlier this month. Prices have risen 15% so far in 2023.

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