Silver to $39.50: Up 9.4% Past 30 Days
“This week, Asian physical gold markets saw muted buying as higher prices dampened sentiment and pushed dealers to offer steeper discounts. In India—the world’s largest consumer—jewellers quoted up to $15/oz off official domestic rates (which include a 6% import duty and 3% sales tax), up from a $10/oz discount last week. Retail demand remained negligible, with many shops postponing new orders amid uncertainty.
In China, gold dealers vacillated between a $5/oz discount and a $4/oz premium over international benchmarks, while customs data revealed imports have declined for a second consecutive month. Hong Kong’s premium settled between zero and $1.50/oz, Singapore’s between zero and $2.50, and Tokyo dealers offered slight discounts of $0.50 up to a $0.70 premium. Across the region, buyers hesitated to commit, with some traders liquidating existing holdings rather than adding new positions.”
