Tuesday, May 24, 2011

Indian Physical Gold Demand Still Dormant; Asian Premiums Slump

According to a Reuters report webbed by the Economic Times, demand for gold was fairly dormant as the wedding season comes to an end.
"Jewellers were not buying as wedding season is almost over, while retail investors were waiting for a correction," said a Mumbai-based dealer with a state-run bank dealing in bullion.

Elsewhere in Asia, premiums on gold bars shrank in most markets due to the rise in prices. Singapore's premiums stayed steady, but Hong Kong's shrank. Tokyo went from flat into discount.

No comments:

Post a Comment