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ChinaAsia Gold Demand plunges in pandemic-battered India Swati VermaRajendra Jadhav 3 minute read 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. Retail purchases have nearly stopped as jewellery stores are closed across the country, said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions. "Priorities have changed. People are trying to protect themselves from coronavirus rathe...

Physical gold in India swings to discount as pandemic stalls demand SECTIONS Last Updated: May 01, 2021, 12:59 PM IST Share Synopsis "Almost every state government has put some kind of COVID-19 restrictions... jewellery stores are either closed or witnessing negligible footfalls," said a Mumbai-based dealer with a bullion importing bank. ETRetail Dealers were offering a discount of up to $2 an ounce this week over official domestic prices, inclusive of 10.75% import and 3% sales levies, from last week's premium of $2. Physical gold in India was sold at a discount this week for the first time...

3 minute read A saleswoman displays a gold necklace to a customer inside a jewellery showroom in Mumbai, India April 18, 2018. REUTERS/Francis Mascarenhas Physical gold in India was sold at a discount this week for the first time in 2021 as a spike in coronavirus cases prompted strict restrictions and kept buyers away. Several Indian states have run out of coronavirus vaccines as new infections surged to another daily record. read more "Almost every state government has put some kind of COVID-19 restrictions... jewellery stores are either closed or witnessing negligible footfalls," said a Mu...

ChinaAsia Gold Second coronavirus wave stifles demand in India Sumita LayekRajendra Jadhav 2 minutes read India's physical gold demand faltered this week as strict restrictions to contain the spread of COVID-19 kept buyers away, while activity in other top hubs remained largely muted due to higher prices. Many Indian states have imposed curbs amid a record surge in infections. read more The second wave has been badly affecting demand as many showrooms are closed due to restrictions, said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the city of Kolkata. "Suddenly, demand ...

* India’s gold consumption likely to rebound this year - WGC * Singapore premiums at $1.2-$1.8/oz Jan 29 (Reuters) - Physical gold demand eased in top consumer China this week as coronavirus-led restrictions dampened retail buying ahead of the Chinese New Year. Dealers sold gold at anywhere between a discount of $4 and a premium of $4 an ounce over benchmark spot gold prices, versus $0.50-$4 premiums last week. “Gold is uninteresting to Chinese investors in the current climate given its weaker returns recently. Gold premiums will neither collapse nor skyrocket,” said Bernard Sin, region...