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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.