Healthy sales during a recent festival encouraged Indian jewellers to continue stocking up in the week , while more supply began to make its way into Singapore and Hong Kong as dealers navigate around COVID-19-led bottlenecks. The country celebrated the Dussehra festival on Sunday, and now await Diwali and Dhanteras in November.
Premiums of $1 an oz were charged over official domestic prices, including 12.5 per cent import and three per cent sales levies, from $5 premiums last week.
But shipping costs are still higher since commercial flights aren’t back to usual, Mr Rotbart added.
Demand in Singapore was subdued, despite a decline in global prices.Jewellers fix For Next Festival As Gold Sales devour
Dealers in China offered discounts of $30-$32 an oz versus $30-$33.5 last week.
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