Falling prices spur Indian demand, China premiums rise 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.
Physical gold dealers in India increased discounts to seven-month highs this week in a bid to lure customers as record local prices hurt demand, while premiums in top consumer China slipped.. -December 08, 2023 at 06:57 am EST
- MarketScreener
Physical gold dealers in India were forced to offer steeper discounts this week as record high prices accelerated a post-festival slowdown in demand, with the rise in local prices hurting activity in other Asian hubs as well. Indian dealers offered discounts of up to $9 an ounce over official domestic prices — inclusive of 15% import and 3% sales levies — up from the last week's discounts of $6. Demand was good for a few days after the Diwali festival last month, but rising prices have brought the market to a standstill, a New Delhi-based bullion dealer said.