TH:Rupee, Eurozone crisis hit gold demand in India
MUMBAI: Weaker local currencies are weighing on gold demand from India, the world's largest consumer of the precious metal, and Indonesia, another leading Asian buyer, as traders also favour cash on concerns over a deterioration in the Eurozone crisis.
Premiums stayed steady in Hong Kong, Tokyo and Singapore.
Traders in India, Asia's third-largest economy, are also waiting for the monsoon to pick up, which could boost the income of farmers, who buy more than half of India's gold.
