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Chinese gold demand holds up ahead of holiday, Indian buying weak

A customer speaks to the owner of a silver and jewellery shop on the occasion of Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, at a market in Mumbai  Chinese gold demand holds up ahead of holiday, Indian buying weak 2015 01 26T123407Z 1 LYNXMPEB0P0IS RTROPTP 2 INDIA GOLDSINGAPORE/MUMBAI (Reuters) – Higher gold prices have limited buying interest in top consumer China to some extent in recent days, but demand remained stronger than last month due to the upcoming Lunar New Year holiday, traders and dealers said. Local prices were as high as $7 above the global benchmark earlier this month. Premiums generally tend to be higher early in the year due to the Lunar New Year, when gold is bought widely in China for gifts. Jewellery demand in China has seen a "considerable" uptick in January compared to December, said Sara Zhao, an analyst with Thomson Reuters GFMS.


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