India gold discounts hit 8-month high as record prices curb demand

India gold discounts hit 8-month high as record prices curb demand

24x7liveindia
Mar 24, 2025 23:29
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India gold discounts hit 8-month high as record prices curb demand

Gold discounts in India hit an eight-month high due to falling demand after prices surged. Dealers are offering up to $41 an ounce discount as domestic prices reached record highs. Gold imports in India could tumble 85% in February.

Discounts offered on gold in India touched a more than eight-month high this week as demand slumped after spot prices surged past record highs.

Indian dealers offered a discount of up to $41 an ounce over official domestic prices, up from up to $39 an ounce last week.

Domestic gold prices hit a record high of 89,796 rupees per 10 grams earlier this week and have risen over 15% so far this year.

“The price just keeps climbing with no break. Every week, it’s hitting new highs. Customers are just sitting back, waiting for a dip,” said a New Delhi-based bullion dealer.