"There are a few deals, I booked about 25 kgs from morning at USD 1,374 (an ounce)," said a dealer with a state-run bullion importing bank in Mumbai....
Premiums continued to edge higher driven by lack of supplies, dealers said.
"The increase in premiums is all supply driven, even though demand is limited," said Pinakin Vyas, assistant vice-president with IndusInd Bank.
The winter harvesting season is underway in India and is expected to leave more disposable income with rural households, which contribute significantly to gold demand....
Since there was no reason given, the most likely explanation is traders having already stocked up sufficiently for the harvest and upcoming wedding seasons.
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