India gold premiums hit ten week high on tight supply
Gold premiums in India rose to fifteen dollars this week due to import delays and tax uncertainty. China also saw increased demand as global prices stabilized.
Physical gold markets in Asia are experiencing a significant shift as supply constraints and renewed buying interest drive premiums higher in key hubs. In India, gold premiums have surged to their highest level in over ten weeks, fueled by a tightening of available supply following regulatory delays.
Domestic banks in the country were forced to pause imports of Gold and Silver earlier this month. The disruption occurred after the government delayed a necessary authorization order, causing tons of bullion to be held at customs. Although the order has since been issued, market participants report that uncertainty remains.
