India Gold Discounts Widen to $19 as China Buying Streak Hits 20 Months
The post India Gold Discounts Widen to $19 as China Buying Streak Hits 20 Months appeared on BitcoinEthereumNews.com. Indian jewelers are cutting gold prices by as much as $19 an ounce this week as sharp volatility freezes retail buying, while China’s central bank keeps adding to its reserves. The contrast highlights diverging gold strategies across Asia’s two largest markets during a volatile month for the metal. Spot prices dropped to a seven-month low in late June before rebounding, fueling the wide swings dealers cite this week. India’s Discounts Deepen as Buyers Hesitate Dealers in India cut prices by up to $19 an ounce this week, according to Reuters. Sharp volatility has discouraged fresh purchases, and many buyers are avoiding the market entirely. Retail activity has shifted toward exchanging old jewelry for new pieces, so jewelers do not need to restock as often. This shift lowers demand for freshly mined bullion and keeps discounts elevated. Indian jewelry volumes fell 19% ye