Record-high gold and silver prices fuelled by US-China friction have dented demand for the precious metal in key consumer market India, in the lead-up to the peak buying period for the Diwali festival.
Gold was trading at US$4,197.5 per troy ounce on Wednesday afternoon, as a spike in US-China trade tensions fuelled investors’ demand for the asset, long seen as a safe-haven investment.
The silver market has been gripped by a lack of liquidity, sparking a worldwide hunt for the metal. Prices hit...