Harshad Ajmera

"Demand is modest from jewellers, but there is ample supply from refiners that are aggressively selling in the market," said Harshad Ajmera, a gold wholesaler in Kolkata. India's gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world's second biggest market for the metal restocked afte...

Global gold retreated for a second session, dropping back from a one-month high, as strong U.S. retail sales and global economic growth prospects prompted a rally in stock markets and dented the metal's appeal as a safe haven.

Gold futures edged lower by half a per cent on Thursday, while silver fell more than a per cent in line with overseas market, while premiums stayed steady in the physical market.

Indian gold premiums hit another record on Thursday, driven by lower supplies to meet firm demand for the wedding season, which will continue till April. Local prices were $150-160 an ounce higher than London prices, compared with $125 earlier this week, traders said.

Gold demand in India was robust on Wednesday, but limited supplies were forcing jewellers to pay near-record premium.

Gold traders in India, the world's biggest buyer of the metal, struggled to find supplies amid low demand ahead of Dhanteras, the biggest gold buying festival, even as premiums stayed at record highs.

Gold imports into India, the world's biggest buyer of the metal, fell about 81 per cent on month to 31.5 tonnes in June after the government raised import duty and stopped consignment imports.

Gold importers in India awaited direction in prices as the yellow metal continued to tread water for the sixth session, on a day when the central bank recommended more import curbs.

"Demand is modest from jewellers, but there is ample supply from refiners that are aggressively selling in the market," said Harshad Ajmera, a gold wholesaler in Kolkata. India's gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world's second biggest market for the metal restocked afte...

Global gold retreated for a second session, dropping back from a one-month high, as strong U.S. retail sales and global economic growth prospects prompted a rally in stock markets and dented the metal's appeal as a safe haven.

Gold futures edged lower by half a per cent on Thursday, while silver fell more than a per cent in line with overseas market, while premiums stayed steady in the physical market.

Indian gold premiums hit another record on Thursday, driven by lower supplies to meet firm demand for the wedding season, which will continue till April. Local prices were $150-160 an ounce higher than London prices, compared with $125 earlier this week, traders said.

Gold demand in India was robust on Wednesday, but limited supplies were forcing jewellers to pay near-record premium.

Gold traders in India, the world's biggest buyer of the metal, struggled to find supplies amid low demand ahead of Dhanteras, the biggest gold buying festival, even as premiums stayed at record highs.

Gold imports into India, the world's biggest buyer of the metal, fell about 81 per cent on month to 31.5 tonnes in June after the government raised import duty and stopped consignment imports.

Gold importers in India awaited direction in prices as the yellow metal continued to tread water for the sixth session, on a day when the central bank recommended more import curbs.