India gold buying slows as prices jump to ₹150,900
Gold buying in India has slowed down after prices jumped to ₹150,900 per 10gm this Friday, up from ₹145,538 last week.
Dealers are now offering smaller discounts as imports have declined.
An Ahmedabad-based jeweler summed it up: "Consumers are highly price-sensitive. The moment prices rise, they hit the pause button and wait for a correction."
But with Dussehra and Diwali coming up soon, gold demand might bounce back as these festivals usually spark a rush for gold.
China gold holds $10 premium
While Indian buyers are holding back, China's gold market remains relatively subdued, trading at a $10 premium over global rates even after the holiday break.
Meanwhile, international gold prices have recovered slightly from recent lows, showing how local factors can really shake up the market from country to country.