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Sept 1 - Premiums on physical gold in China eased off recent highs this week as safe-haven buying cooled on hopes that stimulus could help the top bullion buyer's ailing economy.
"Despite prevailing pessimism, China's economy seems to be performing better than perceived," said Bernard Sin, regional director, Greater China, at MKS PAMP."This has led to expectations that import quotas could be introduced sooner rather than later."But independent analyst Ross Norman said retail buyers were now"largely absent," given lingering economic concerns, although safe-haven demand for gold bars and coins was robust.
In India, a near 2% rise in local prices in a fortnight, put off buyers and made dealers offer discounts of about $4 an ounce over official domestic prices — inclusive of 15% import and 3% sales levies. Gold was trading around 59,450 rupees per 10 grams on Friday.
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