Asia Gold Rally Cools Indian Buying; China Discounts Narrow
Gold prices have surged to all-time highs, pushing domestic Indian gold to record levels and cooling retail demand. Meanwhile in China, discounts from international gold benchmarks have narrowed — reflecting shifting buying patterns across Asia.
Record gold highs: Spot gold reached around $4,530/oz and Indian domestic prices hit new peaks.
India demand cooled: Retail Indian buyers are retreating at elevated price points — deepest discounts in six months.
China discounts narrow: Gold discounts in China decreased sharply as speculative buying increased and supply tightened.
Global premiums varied: In Singapore & Hong Kong bullion traded close to par/premium — indicating diverse regional markets.
Why It Matters:
Despite headline-high gold prices attracting headline attention, actual retail demand may weaken at these levels — yet speculative and investment demand (incl. via ETFs & central banks) could sustain momentum.
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