Indian dealers were charged a premium of up to $4 per ounce over official domestic prices, inclusive of 6% import and 3% sales levies, compared to last week's offers that ranged from a $2 discount to a $3 premium.
The Dussehra and Diwali festivals, when gold buying is considered auspicious, will be celebrated in October this year.
“Gold’s been stuck around 100,000 rupees for three months now, and shoppers are finally getting used to it - they’re slowly coming back to the market,“ a Mumbai-based bullion dealer with a private bank said.
“Volume in Shanghai Gold Exchange has been lacklustre, with only light participation from speculators and retail investors,“ said Bernard Sin, regional director of Greater China at MKS PAMP.
In Hong Kong and Singapore, gold was sold at par to a premium of $2.50, respectively. In Japan, bullion changed hands at par with spot prices, according to a Tokyo-based trader.
“We are seeing more clients coming to sell. Buying has really gone down quite a bit because prices are at multi-week highs,“ said Brian Lan, managing director at GoldSilver Central -REUTERS
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