Gold gets its festive shine back as lower prices lure Asian buyers - The Times of India

AI desk brief

Lower gold prices are pulling physical buyers back into Asia, led by improved demand in India and firmer buying interest in Singapore. In India, domestic gold fell to Rs 145,538 per 10 grams, a nearly two-month low, and dealer discounts narrowed sharply to as much as $14/oz from $43/oz a week earlier, with traders saying jewellers and investors are becoming more active ahead of Dussehra and Diwali.

China also saw bullion trade at a $5-$10/oz premium to the global benchmark, though buying remains highly price-sensitive. Singapore and Hong Kong traded in narrow discount/premium bands, while Japanese physical prices also stayed range-bound; overall, the article suggests pullbacks in spot gold are still triggering physical support even as international prices head for a weekly loss and were already down more than 6% in September.