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Singapore premiums eased to $1.20 an oz from $1.40 quoted final week.
“We’ve seen retail buying and also wholesalers covering their shorts, but surprisingly, we’ve seen quite a number of retail clients coming to sell,” mentioned Brian Lan, managing director at vendor Gold
Persons are taking income and promoting on worries that gold would possibly breach $1,800 an oz degree on vaccine information, he added. Bangladesh reduce home gold charges by 2,508 taka ($29.70) this week. “We had to reduce the rates despite unprecedented ups and down in the international gold market. I’ve never seen such kind of demand destruction happening,” mentioned Enamul Haque, president of Bangladesh Jewellers’ Affiliation.
