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Indians and Chinese hang on to their gold as futures prices rise

With futures at six-year high, world's biggest buyers of the metal lose interest

Local gold prices have even become higher as China's yuan and India's rupee weakened. In India, dealers offer a discount of $15 per ounce over official domestic price to jewelers, their primary customers, to boost demand.   © Reuters

TOKYO/NEW DELHI/HONG KONG -- President Donald Trump's latest tariff salvo as well as the first rate cut in the U.S. in more than a decade are conspiring to boost the price of gold futures but dampening demand for physical gold among individuals in Asia.

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