Akshaya Tritiya gold demand cools as prices hit ₹1.53 lakh
Business
Gold shopping for Akshaya Tritiya (April 19) isn't buzzing like usual this year. With prices hitting ₹1.53 lakh for 10gm, many buyers are holding back.
Even jewelers in Bengaluru say pre-bookings have dropped a lot, pretty unusual for this festive season.
Indian banks pause bullion imports
Indian banks have paused gold and silver imports while waiting on government clearance, causing shipment delays.
Normally, this would push up prices, but thanks to weak demand and some ETF selling, premiums are staying put.
Over in China and Hong Kong, premiums are just a few dollars above spot rates.