Gold premiums in India have surged to a more than decade-high amid strong investment demand, ahead of a likely duty hike in the Union Budget 2026-27. Domestic gold prices hit a record high of 180,779 rupees ($1,967.77) per 10 grams on Thursday. Premiums in China also jumped due to rising investment and jewellery demand, even as global rates approached a record near $5,600 this week. With elevated gold prices, customers have been flocking to traders in Shanghai and Hong Kong, with some betting it could rise even further. Fung added that jewellery demand in China had picked up ahead of the Lunar New Year, and fresh demand was still coming in, calling it a good sign for the yellow metal, as jewellery purchases represented long-term investment.

Source: The Telegraph January 30, 2026 16:47 UTC