01:09
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Gold buying in the world’s top two gold consuming countries remained slow this week as premiums in China improved only slightly and those in India slipped as the global benchmark stabilised at $1,200 an ounce.
Spot gold is trading not far below a seven-week top of $1,224.10 reached on April 6, as recent weak US economic data kept alive hopes the Federal Reserve could delay a rate hike that some Fed officials think could still come as early as June.
Premiums for physical gold on the Shanghai Gold Exchange edged up to $2-$3 an ounce over the spot benchmark from just above a dollar last week.
Gold is trading in India at a premium of $2 an ounce over the international market. down from $3 last week.
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Posted in: Indian Market Tips
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