Latest news with #HugoPascal
News18
02-08-2025
- Business
- News18
Gold Demand Rises As Yellow Metal's Rates Hit 1-Month Low: Check Price In Your City On August 2
Last Updated: In the international market, spot gold hit its one-month low level this week and saw a third consecutive weekly loss. Gold Prices In India Today, August 2: Physical gold demand in India, along with other key Asian markets, has improved this week as a pullback in prices led to buying interest, according to a Reuters report. In the international market, spot gold hit its one-month low level this week and saw a third consecutive weekly loss. In India, 24-karat gold prices were trading at around Rs 97,700 per 10 grams on Friday, after rising to Rs 1,00,555 last week. However, the gold prices on Saturday jumped after weak jobs data in the US. 'This week, footfall was better than last week. Buyers were inquiring about price trends and making small purchases," Reuters has cited a Pune-based jeweller as saying. Discounts offered by Indian dealers narrowed to as much as $7 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, compared to up to $15 last week. Jewellers were keen to make purchases to replenish inventory after a correction in overseas prices, but a significant drop in the rupee offset the impact of the price fall to an extent, said a Mumbai-based bullion dealer with a private bank. India's gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, the World Gold Council said on Thursday. 'China appears to slightly buy the dip in gold… trading volume for the physical proxy contract AU9999 on the Shanghai Gold Exchange has been on the rise (11 tons traded yesterday), reflecting a renewed interest in the metal," said Hugo Pascal, a precious metals trader at InProved, according to Reuters. In Hong Kong, gold was sold at par to a $1.50 premium, while Singapore prices ranged from par to a $1.40 premium. In Japan, bullion was sold at par to a premium of $0.60. 'There was lots of demand to buy if the price dropped even slightly. Regardless of the Japan-US trade deal, gold is being purchased as an asset class amid low interest rates," a Japan-based trader said. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Reuters
11-07-2025
- Business
- Reuters
Asia Gold: Demand sluggish in Asia as volatile prices weigh on sentiment
July 11 (Reuters) - Demand for physical gold remained sluggish this week across major Asian markets as price volatility weighed on sentiment, with premiums in China holding firm and discounts in India narrowing. Dealers in top consumer China charged premiums of $10-$25 an ounce over the global benchmark spot price, compared with premiums of $4.2-$33 last week. Spot gold fell to its lowest level in over a week on Wednesday, dipping below the $3,300 mark, before recovering to trade at $3,335 as of 0520 GMT on Friday. U.S. President Donald Trump has broadened his trade war in recent days, announcing new levies on several countries, set to take effect on August 1. This uncertainty has failed to trigger a renewed interest in gold buying in China this week, said Hugo Pascal, a precious metals trader at InProved. China's central bank issued new anti-money laundering and counter-terrorism financing regulations targeting precious metals and gemstone dealers, state news agency Xinhua reported. "(This regulation) will kill some potential demand onshore China," a mainland China-based precious metal trader said, adding gold demand may rise only when prices approach $3,000-$3,100. Meanwhile, Indian dealers' discounts narrowed to up to $8 an ounce, inclusive of 6% import and 3% sales levies, from last week's $14. Discounts are gradually narrowing due to limited supplies, as imports were low in May and June and scrap availability is also restricted, said a Mumbai-based bullion dealer with a private bank. Domestic gold prices traded around 97,300 rupees ($1,133.57) per 10 grams on Friday after hitting an all-time peak of 101,078 rupees last month. Gold demand is typically subdued in India during the monsoon season that spans June to September. In Hong Kong, gold was sold at par to a premium of $1.50, while in Singapore gold traded between at-par prices and a $2.20 premium. In Japan, bullion changed hands at par to a premium of $0.50. ($1 = 85.8350 Indian rupees)
Yahoo
07-06-2025
- Business
- Yahoo
Indian dealers offer steeper discounts as price rally dulls demand
By Rajendra Jadhav and Brijesh Patel (Reuters) - Gold discounts in India widened this week to their highest levels in more than a month, as a rally in domestic prices to near-record highs weighed on demand, while elevated rates also dampened buying across other major Asian hubs. Domestic gold prices were trading around 98,300 rupees per 10 grams on Friday, after rebounding from a low of 90,890 rupees last month and nearing the all-time high of 99,358 rupees. The spike in prices forced Indian dealers to offer discounts of up to $56 an ounce below official domestic prices, which include a 6% import duty and 3% sales tax, up from $31 last week. "Prices have gone up, and that's really hit demand. Hardly anyone was buying this week," said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. Gold demand in India typically remains subdued during the monsoon season, which began earlier than usual this year. Jewellers are not making purchases because the lean demand season has started, and they don't want to build high-cost inventory, said a Mumbai-based bullion dealer with a private bank. Meanwhile, dealers in top gold consumer China charged premiums of $10-$14 an ounce over the global benchmark spot price. Last week, bullion changed hands at par to a $15 premium. "Elevated gold prices appear to have negatively impacted Chinese demand, judging by weaker trading volume," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong, gold was sold at a premium of $0.30 to $1.30, while in Singapore gold traded between at-par prices and a $2.50 premium. "We've seen some of our clients coming to take profit and also on the wholesale side, we've seen some selling because prices are high," said Brian Lan, managing director at Singapore-based GoldSilver Central. In Japan, bullion traded anywhere between a discount of $0.5 and a $0.5 premium over spot prices.
Reuters
06-06-2025
- Business
- Reuters
Asia Gold: Indian dealers offer steeper discounts as price rally dulls demand
June 6 (Reuters) - Gold discounts in India widened this week to their highest levels in more than a month, as a rally in domestic prices to near-record highs weighed on demand, while elevated rates also dampened buying across other major Asian hubs. Domestic gold prices were trading around 98,300 rupees per 10 grams on Friday, after rebounding from a low of 90,890 rupees last month and nearing the all-time high of 99,358 rupees. The spike in prices forced Indian dealers to offer discounts of up to $56 an ounce below official domestic prices, which include a 6% import duty and 3% sales tax, up from $31 last week. "Prices have gone up, and that's really hit demand. Hardly anyone was buying this week," said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. Gold demand in India typically remains subdued during the monsoon season, which began earlier than usual this year. Jewellers are not making purchases because the lean demand season has started, and they don't want to build high-cost inventory, said a Mumbai-based bullion dealer with a private bank. Meanwhile, dealers in top gold consumer China charged premiums of $10-$14 an ounce over the global benchmark spot price. Last week, bullion changed hands at par to a $15 premium. "Elevated gold prices appear to have negatively impacted Chinese demand, judging by weaker trading volume," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong, gold was sold at a premium of $0.30 to $1.30, while in Singapore gold traded between at-par prices and a $2.50 premium. "We've seen some of our clients coming to take profit and also on the wholesale side, we've seen some selling because prices are high," said Brian Lan, managing director at Singapore-based GoldSilver Central. In Japan, bullion traded anywhere between a discount of $0.5 and a $0.5 premium over spot prices.
Yahoo
06-06-2025
- Business
- Yahoo
Indian dealers offer steeper discounts as price rally dulls demand
By Rajendra Jadhav and Brijesh Patel (Reuters) - Gold discounts in India widened this week to their highest levels in more than a month, as a rally in domestic prices to near-record highs weighed on demand, while elevated rates also dampened buying across other major Asian hubs. Domestic gold prices were trading around 98,300 rupees per 10 grams on Friday, after rebounding from a low of 90,890 rupees last month and nearing the all-time high of 99,358 rupees. The spike in prices forced Indian dealers to offer discounts of up to $56 an ounce below official domestic prices, which include a 6% import duty and 3% sales tax, up from $31 last week. "Prices have gone up, and that's really hit demand. Hardly anyone was buying this week," said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. Gold demand in India typically remains subdued during the monsoon season, which began earlier than usual this year. Jewellers are not making purchases because the lean demand season has started, and they don't want to build high-cost inventory, said a Mumbai-based bullion dealer with a private bank. Meanwhile, dealers in top gold consumer China charged premiums of $10-$14 an ounce over the global benchmark spot price. Last week, bullion changed hands at par to a $15 premium. "Elevated gold prices appear to have negatively impacted Chinese demand, judging by weaker trading volume," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong, gold was sold at a premium of $0.30 to $1.30, while in Singapore gold traded between at-par prices and a $2.50 premium. "We've seen some of our clients coming to take profit and also on the wholesale side, we've seen some selling because prices are high," said Brian Lan, managing director at Singapore-based GoldSilver Central. In Japan, bullion traded anywhere between a discount of $0.5 and a $0.5 premium over spot prices. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
