Gold Spot Direction and Trend
Analysis of Gold @Puregoldgiver this is the upward Trend of gold.
India discounts at seven-week high as buyers shy away from high prices
Sep 6, 202411:34 GMT+2
Key points:
Indian dealers widen discounts to 13/ounce
Jewellery demand hit, especially in Hong Kong - analyst
Japan premiums were at par to 00.5/OZ this week
Gold discounts in India surged to a seven-week high this week as rising prices hurt demand, while traders and analysts noted that Asian consumers would likely utilise any price declines.
"Jewellers are hesitant to make purchases above $2,500 per ounce and are waiting for prices to come down," said a Mumbai-based dealer with a private bullion importing bank.
Spot gold prices were trading around $2,520 per ounce, just shy of the all-time high of $2,531.60.
India discounts at seven-week high as buyers shy away from high prices
Sep 6, 202411:34 GMT+2
Key points:
Indian dealers widen discounts to 13/ounce
Jewellery demand hit, especially in Hong Kong - analyst
Japan premiums were at par to 00.5/OZ this week
Gold discounts in India surged to a seven-week high this week as rising prices hurt demand, while traders and analysts noted that Asian consumers would likely utilise any price declines.
"Jewellers are hesitant to make purchases above $2,500 per ounce and are waiting for prices to come down," said a Mumbai-based dealer with a private bullion importing bank.
Spot gold prices were trading around $2,520 per ounce, just shy of the all-time high of $2,531.60.
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