| 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
|