Gold premiums double in India amid surging demand

Section:

Gold Premiums Jump as Physical Demand Outstrips Supply

By Siddesh Mayenkar
Reuters
Wednesday, June 26, 2013

http://in.reuters.com/article/2013/06/26/markets-india-gold-idINDEE95P08...

MUMBAI -- Gold premiums doubled in India on Wednesday as suppliers struggled to meet surging demand after a ban on consignment imports, but futures prices fell to their lowest in more than a month as international gold prices fell due to a strong dollar.

India, the world's biggest buyer of gold, now requires importers to pay upfront for inventory, making it difficult for smaller jewellers with lower working capital to source supplies. The government also raised the import duty to 8 percent in May to keep a lid on the surging current account deficit.

... For the full story:

http://in.reuters.com/article/2013/06/26/markets-india-gold-idINDEE95P08...



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