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Gold premiums in India may go through the roof by Diwali

Posted on 31 July 2013

The fees paid by jewelers to banks and other importers reached new heights as the fresh central bank curbs limited the supply of gold in India. The gold premiums jumped to more than double during the week, according to recent data released by the country’s trade body.
The gold imports, which stood high at 162 tonnes during the month of May, had plunged by 81% to reach nearly 31.5 tonnes during June. Gold premiums, which were as low as $4 per troy ounce during the last week have now shot up to levels of $10 per ounce over the London Gold Market cash price………………………………………..Full Article: Source


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