Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Sluggish Demand, Higher Supply Drag Gold Premiums in India.


Date: 30-07-2014
Subject: Sluggish Demand, Higher Supply Drag Gold Premiums in India
NEW DELHI : The gold premiums in India crashed to new lows on account of weak domestic demand and higher supplies of the yellow metal. The premiums fell by almost 50% to $5-$6 per troy ounce on London price when compared with $10 per troy ounce during last week.

Trade sources indicate that gold demand in the country generally remains weak during monsoon season. The demand is likely to pick up only with the advent of festive season by mid-August.

Also, the low demand for gold has ensured that enough supplies are available. Consequently, the imports are expected to slow down in July and August, unless there is excessive gold demand during the festive season. According to Bachhraj Bamalwa, Director, All India Gems and Jewellery Trade Federation (GJF), the carry forward stock from June is still available. He also added that the imports are likely to reduce to 40-50 tonnes during July and August.

In rest of Asia, the gold premiums remained stable. Buying interest was witnessed as prices of gold fell below the psychological level of $1,300. However, volumes remained thin as buyers still expect more downside to gold in the immediate near-term.

Gold premiums in Hong Kong and Singapore remained flat at $1 per ounce to the global benchmark prices. Tokyo too returned to premium from discount witnessed earlier this month. On the other hand, premiums in China quoted at $3 during the week.

Source : metal.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-02-2025
Notification No. 12/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 14-02-2025
Notification No. 10/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 13-02-2025
Notification No. 14/2025-Customs
Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate on Bourbon whiskey

Date: 11-02-2025
NOTIFICATION No. 09/2025–Central Tax
Seeks to bring rules 2, 8, 24, 27, 32, 37, 38 of the CGST (Amendment) Rules, 2024 in to force

Date: 03-02-2025
[F. No. CBIC-190354/236/2021-TRU]
Corrigendum to Notification No. 50 of 2024 Customs, dated the 30th December, 2024.

Date: 01-02-2025
Notification No. 13/2025-Customs
Seeks to further amend notification No. 153/94-Customs dated the 13 th July, 1994.

Date: 01-02-2025
Notification No. 12/2025-Customs
Seeks to further amend notification No. 19/2019 dated 06 th July 2019.

Date: 01-02-2025
Notification No. 11/2025 – Customs
Seeks to further amend notification No. 25/2002-Customs, dated the 1st March, 2002 so as to add capital goods to the already existing list of capital goods exempted from basic customs duty for manufacture of lithium-ion battery of mobile phones and electrically operated vehicles.

Date: 01-02-2025
Notification No. 09/2025-Customs
Seeks to further amend notification No. 16/2017-Customs, dated the 20 th April, 2017 so to exempt certain drugs for supply under Patient Assistance Programme run by specified pharmaceutical companies.

Date: 01-02-2025
Notification No. 07/2025-Customs
Seeks to further amend notification No. 11/2018-Customs dated 02 th February, 2018 so as to exempt specified goods from the whole of levy of Social Welfare Surcharge.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001