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Banks divert gold supply from India to China

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators said.

Banks divert gold supply from India to China, Turkey

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered.

Gold-Suppliers Cut Back Shipments To India, Focus On China, Turkey: Report

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.

Banks divert gold supply from India to China

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China

Banks divert gold supply from India to China, Turkey: Sources

Leading gold suppliers to India - which include ICBC Standard Bank, JP Morgan and Standard Chartered - usually import more gold ahead of festivals and store it in vaults.

Platinum Imports Jump Record High As Refiners Take Advantage Of Tax Change

The platinum imports in September jumped multifold to a record high as refiners imported a large amount of gold containing small amounts of platinum but registered the purchases with customs as platinum alloy to avoid paying higher duties, government and industry officials told Reuters.

Asia Gold-India prices swing to premium as easing restrictions lure buyers

Asia Gold-India prices swing to premium as easing restrictions lure buyers

Gold price stable at Rs 46,130 per 10 gm, silver trending at Rs 69,000 a kg

Gold price on Monday remained unchanged at Rs 46,130, while silver price was trending at Rs 69,000 per kg, according to the Good Returns website. Gold jewellery prices vary across India, the second-largest consumer of the metal, due to differing excise duty, state taxes, and making changes in different states. In New Delhi, the price of 22-carat gold rose by Rs 10 to Rs 45,410 per 10 gm, while in Chennai it inched up to Rs 43,770. In Mumbai, the rate stayed at Rs 45,130--the same as Friday, according to the Good Returns website. The price of 24-carat gold in Chennai was up by Rs 10 to Rs 47,750 per 10 gm.

Gold price drop boosts India buying, lifts premiums to eight-month high

Read more about Gold price drop boosts India buying, lifts premiums to eight-month high on Business Standard. On Friday, local gold futures fell to 45,861 rupees per 10 grams, the lowest level since June 2020