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China gold premiums hold near 3-year high, cash crunch curbs Indian demand
Gold was sold in China at about $24 an ounce above the international spot benchmark this week. Premiums went as high as $30 last week, the most since January 2014, according to Thomson Reuters data. Supply has been limited and so the premiums have held firm, said Cameron Alexander, analyst with Thomson Reuters-owned metals consultancy GFMS. In India, the world's No 2 gold consumer after China, demand remained sluggish despite falling prices.
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