Symbol: GOLD| Contract: Feb, 2014 | Category: Bullion
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Gold's Latest News
To curb a record trade deficit, India imposed an import duty of 10 per cent on gold, and tied imports for domestic consumption to exports, creating scarce supply of the yellow metal and boosting premiums to a record.
Gold futures in India extended losses to hit their lowest level in four weeks, weighed by a strong rupee, though a firm overseas market kept the downside limited.
Investors are now awaiting U.S. non-farm payroll data, due to be released at 1330 GMT, which could provide more clues on the timing of the tapering of stimulus measures in the world's largest economy.
The world's most valuable jewellery retailer Chow Tai Fook, which counts Cartier and Tiffany & Co as competitors, is on a quest to conquer the hearts of China's future big spenders. Its weapons of choice: Hello Kitty and Winnie the Pooh.
Gold dropped more than 1.6 per cent on Thursday as investor sentiment was dogged by persistent speculation about the future of US monetary stimulus.
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