Indian Gold demand shoots up in August but may be faltering again in September

Mumbai-India (Sept 18)  Gold demand in India, the world’s second-biggest gold-consuming nation, picked up in August but may be faltering again this month, according to Commerzbank.

 Analysts noted that the country’s Finance Ministry reported that the country imported significantly more gold in August.

 Advantage was clearly taken of the fall in local prices to an eight-month low in August to replenish stocks.

 Demand in India already appears to be faltering again due to the higher prices, however. Local Gold traders are reporting negative premiums for the first time in over a month.

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