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MUMBAI: Physical gold demand crept up this week in top hubs India and China though dealers were still forced to offer discounts, while businesses limped back to life in India as some COVID-19 restrictions were eased. Some Indian states have begun easing restrictions as infection cases abate. “Slowly, businesses are opening up in a few states. As new coronavirus cases are
Jewellers lift shutters; discounts prevail in top hubs Top Searches Jewellers lift shutters; discounts prevail in top hubs Reuters / Jun 12, 2021, 17:36 IST FacebookTwitterLinkedinEMail Some states have begun easing restrictions as infection cases abate. "Slowly, businesses are opening up in a few states. As new coronavirus cases are falling, expectations are most states will ease restrictions in the next few weeks," said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions. Dealers offered discounts of up to $12 an ounce over official domestic prices, inclusive of 10.75%...
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Physical gold demand crept up this week in top hubs India and China though dealers were still forced to offer discounts, while businesses limped back to life in India as some COVID-19 restrictions were eased.
* Few buyers turn to online platforms to buy gold - Indian dealer * Bangladesh Jewellers Association raises local gold rates * Singapore premiums ease to $1.3-$1.9/oz vs $1.5-$2 last week May 14 (Reuters) - Physical gold was sold at the biggest discount in over seven months in India this week as pandemic-led restrictions kept jewellery stores closed during a key gold-buying festival in the world’s second biggest consumer. “For the second straight year, Akshaya Tritiya sales plunged because of coronavirus,” said a Mumbai-based bullion dealer with a gold-importing bank. “Retail sales ar...
2 Min Read (Reuters) - Physical gold demand in India dived this week as shops shuttered and people turned cautious due to surging coronavirus infections across the world’s second-largest bullion consumer, which also fanned fears of a wider spread to other Asian centres. FILE PHOTO: Customer looks at gold earrings at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, amidst the spread of COVID-19 in Mumbai, India, November 13, 2020. REUTERS/Niharika Kulkarni Retail purchases have nearly stopped as jewellery stores are closed across the cou...