Premiums on physical gold jumped this week, driven by supply constraints and strong demand for bullion as a safe-haven, as economic worries mount in top consumer China. The downturn in. -Today at 07:59 am- MarketScreener
Asia Gold: "Demand is very weak due to higher prices and the monsoon season," said Ashok Jain, owner of Mumbai-based gold wholesaler Chenaji Narsingji, adding that buyers were waiting for a price correction.
India at discount as high prices dent retail demand zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
The gold price fell $10 and then rebounded Monday after losing 3.4% across the 2nd quarter of 2023 from end-March s record quarterly finish amid weakening paper gold sentiment among Comex speculators and ETFs like the GLD and IAU
"Investors are buying on the dip and retail investors are also interested in picking up some jewellery," said Peter Fung, head of dealing at Wing Fung Precious Metals, adding there could be more buying if prices retreat further.
Physical gold dealers in China this week charged the heftiest premiums in over three months as a retreat in domestic prices raked in retail buying, while weak demand flipped the Indian market into a.
India is bracing for a second currency note exchange program in less than seven years, pulling its 2,000 rupee note out of circulation in an exercise that comes ahead of a series of crucial state. | May 22, 2023
Asia Gold Indian dealers trim discounts as price dip reignites some buying kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.
(Reuters) - A pullback in domestic prices for physical gold from record highs lured back some buyers in India this week and prompted dealers to slash discounts to a 10-week low, while the bullion market in top hub China saw subdued activity. | 07:07am
Gold consumers in top hub China slowed purchases this week as a steady rise in domestic prices started to bite, forcing dealers to offer discounts for the first time in months.