Physical gold demand in India dived this week as shops shuttered and people turned cautious due to surging coronavirus infections across the world's second-largest bullion consumer, which also fanned fears of a wider spread to other Asian centres. Retail purchases have nearly stopped as jewellery stores are closed across the country, said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions. People are trying to protect themselves from coronavirus rather than stepping out for gold buying," he said. Premiums of $7-$10 an ounce level were quoted versus last week's $8-$10 charged over benchmark spot gold prices. [GOL/]In Hong Kong, premiums of $0.8-$1.8 an ounce were charged and $1.5-$2.0 an ounce in Singapore, both unchanged from last week.

Source: Mint May 07, 2021 12:33 UTC