Bengaluru/Mumbai:
Healthy sales during a recent festival encouraged Indian jewellers to continue stocking up this week, while more supply started to make its way into Singapore and Hong Kong as dealers navigate around COVID-19-led bottlenecks. The country celebrated the Dussehra festival on Sunday, and now await Diwali and Dhanteras in November.
"Dussehra sales gave confidence to jewellers. They’re now buying for Diwali," said a Mumbai-based dealer with a bullion importing bank.
Premiums of $1 an ounce were charged over official domestic prices, including 12.5 per cent import and 3 per cent sales levies, from $5 premiums last week. Domestic gold futures were trading around ₹ 50,500 ($682.96) per 10 grams."Retail consumers are slowly adjusting to higher prices," said Aditya Pethe, director at Waman Hari Pethe Jewellers.In Singapore, premiums of $0.80-$1.30 an ounce were charged over international spot prices."As more countries adjust to the ‘new normal’, we see less logistical constraints as […]
Click here to view original web page at www.ndtv.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments