India Gold Premiums Seen Extending Climb to Record on - TopicsExpress

India Gold Premiums Seen Extending Climb to Record on Curbs “Gold premiums in India, the world’s largest consumer last year, may extend their advance to a record as central bank restrictions halt imports. The fees paid by jewelers to banks and other suppliers have jumped to about $40 an ounce over the London cash price from $30 in the week ended Aug. 2, said Haresh Soni, chairman of the All India Gems & Jewellery Trade Federation. Premiums may surge to $100 if the government doesn’t ease the rules, said Bachhraj Bamalwa, a director at the federation, which represents about 300,000 jewelers and bullion dealers.” bloomberg/news/2013-08-11/gold-premiums-in-india-seen-extending-climb-to-record-on-curbs.html

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