Gold Premiums

Dealers quoted premiums of up to $15 an ounce over official domestic prices this week, inclusive of 6 per cent import and 3 per cent sales levies, the highest since February 7

Bullion dealers in India charged a premium of up to $121 per ounce this week over official domestic gold prices

Spot gold rose ‍1.98% to $5,081.18 per ounce by 0323 GMT, ​after touching $5,092.71 earlier. U.S. gold futures for February delivery gained 2.01% to $5,079.30 per ounce

On the downside, gold prices, WGC said, can slip 5 per cent to 20 per cent in CY26. For that to happen, Donald Trump's policies need to succeed, resulting in stronger-than-expected growth.

The Fed cut rates by 25 basis points on Dec. 18, although the central bank's predictions of fewer rate cuts in 2025 resulted in a decline in gold prices to their lowest level since Nov. 18 last week

Spot gold was trading with a loss of around 0.45 per cent at $2,570 at the time of the MCX closing. The MCX October gold contract closed at Rs 73,150 (LTP), down 0.49 per cent.

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.1 per cent during this period

Gold will attract 3% GST under the new regime against 1.2% currently

Traders say, in India the cash crunch forcing retail consumers to trim purchases