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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

India’s Appetite for Gold Improves

Posted on 27 August 2014

As gold prices linger near a two-month low, demand in Asia has started edging higher with buyers in India increasing purchases ahead of a Hindu religious festival this week. The mark up to global gold prices, known as a premium, that Indian consumers pay has climbed to $10 to $13 a troy ounce from zero in July, a sign that appetite for gold is picking up in the world’s second-largest consumer of the precious metal.
The vast majority of India’s gold supply comes from abroad. As a result, Indian gold buyers typically pay a premium to global prices that reflects the tightness of locally available supply as well as the government-imposed import duty………………………………………..Full Article: Source


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