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Empty jewellery shops plague India market as Dubai exports arrive

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Empty jewellery shops plague India market as Dubai exports arrive

MUMBAI/BENGALURU: Physical gold dealers in India this week offered the highest discounts in more than one and a half months, as buyers stayed away even as more bullion flowed in from the United Arab Emirates. On Friday, gold futures in India, traditionally the world’s second biggest gold consumer after China, were trading around 51,800 rupees … Read more

Dwindling gold demand pushes Chinese discounts to record high

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Dwindling gold demand pushes Chinese discounts to record high

BENGALURU/MUMBAI: Chinese discounts for physical gold scaled yet another record peak versus global spot rates this week as the Covid-19 pandemic continued to choke retail appetite, with even a price dip failing to lure consumers in India. Gold has been sold at discounts in China, usually the world’s top bullion consumer, since February. Discounts widened … Read more