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.