Gold traded at a premium in India this week for the first time in two months, as softer prices boosted demand for the metal, while premiums in China ticked down slightly as buyers awaited a deeper correction.
Dealers quoted discounts
“Falling prices are helping bring back buyers. Retail buying and jewellers’ purchases were stronger this week than last week,” said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji.
Domestic gold prices were trading around ₹146,700 per 10 grams on Thursday, after rising to ₹151,326 earlier this week and a record high of ₹180,779 in late January.
Scrap supplies have declined in recent weeks, prompting jewelers to buy from banks, although volatile prices and the rupee are keeping purchases small, said a Mumbai-based bullion dealer with a private bank.
In top consumer China, bullion traded at premiums of $12-$17 an ounce over the global benchmark price
“The demand for physical gold is steady as gold swings between $4,400 and $4,700….when the market goes down to about $4,200, we could see some increase in demand,” said Peter Fung, head of dealing at Wing Fung Precious Metals.
International spot gold prices dropped over 4% on Thursday, retreating from a two-week high hit earlier in the session, as the Middle East war rages on, fueling concerns around inflation and a hawkish monetary policy response.
“Gold jewelery sales remained soft in the immediate post-Chinese New Year period, but have begun a moderate recovery, supported by low inventory levels and restocking demand following the price correction,” Metals Focus said in a note.
Investment flows cooled down in the last two months of March after a solid start in the first two months of the year, it added.
In Hong Kong, physical gold
In Singapore
Published on April 2, 2026