Indian buyers brushed off record high local prices this week making gold purchases during the Diwali festival week in the country, while China premiums remained buoyant after the top-buyer continued to accumulate gold holdings. Local gold prices were trading around 60,900 rupees($731.81) per 10 grams on Friday after hitting an all-time high of 61,914 rupees($744.00)this week. Sales of coins and bars picked up from the last weekend, while demand for jewellery also improved, said a Mumbai-based bullion dealer with a private bank.
Indian buyers brushed off record high local prices this week making gold purchases during the Diwali festival week in the country, while China premiums remained buoyant after the top-buyer. -November 17, 2023 at 06:55 am EST
- MarketScreener
Asia Gold India discounts widest in seven weeks, China premiums bounce back reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Discounts on physical gold were highest in seven weeks in India as sturdy domestic rates restricted purchases, while premiums in China swung higher this week on some demand optimism flowing from.
Premiums on physical gold in China
jumped to the highest since December 2016 this week as economic
worries spurred fresh safe-haven demand, while lower domestic
prices brought back some buyers in. -Today at 08:33 am- MarketScreener