<div id="readability-page-1"><div id="parent_top_div">Gold demand in India remained subdued this week, as buyers held back due to a sharp rise in ​prices and import duties, while premiums in top consumer ​China narrowed on cautious market sentiment. Dealers in India quoted discounts of up to $106 ‌an ounce over official domestic prices this week, inclusive of 15% import and 3% sales levies, up from discounts of up to $78 an ounce last week. &#34;Jewellery stores are reporting very low footfall these days. Retail consumers are struggling to understand price trends and are preferring to stay on the sidelines,&#34; said a Chennai-based bullion dealer. Domestic gold prices were trading higher on Friday after falling to 153,451 rupees per 10 grams in the previous session, their lowest level in a fortnight. &#34;Sentiment in the market is very weak after the government increased import duty. ‌Jewellers are extra cautious and are not willing to build stocks,&#34; said a Mumbai-based dealer with a private bullion importing bank. Earlier this month, the South Asian country raised import tariffs on gold and silver to 15% from 6%. In top consumer China, bullion traded at premiums of $9 to $12 an ounce over the global benchmark price, narrowing from premiums of $10 to $20 last week. &#34;Premiums in China are still somewhat steady, but not as ​many people want to buy at the moment as the conflict in the Middle East is ‌still uncertain, so people would like to see what happens next,&#34; said Peter Fung, head of dealing at Wing Fung Precious Metals. Spot gold was headed for ​a third ‌consecutive monthly loss, after falling to a two-month low of $4,365.76 on Thursday before closing higher ‌on reports of a possible U.S.-Iran ceasefire extension. A good support level will be $4,360, Fung said. &#34;I think from here, some more buying interest should come in the ‌market.&#34; In ​Hong Kong, gold traded ​at par to premiums of $1.80, while in Japan, gold was sold at a discount of $0.50. In Singapore, gold was sold at a discount of $0.25 ‌to a premium ​of $3.50.</div></div>

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Gold demand in India is low due to rising prices and increased import duties, with discounts reaching $106 an ounce. Retail footfall is down as consumers hesitate amid price volatility. In China, premiums narrowed to $9-$12 an ounce, reflecting cautious sentiment. Spot gold is facing a third monthly loss, trading at a two-month low of $4,365.76, with expectations of increased buying interest as market conditions stabilize.

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