Gold premiums in India seen tumbling as curbs on imports eased
By GCRU Gold News on Friday, May 30 2014, 07:20 - Permalink
Gold premiums in India, the world’s second-biggest user, are poised to slump to the lowest level in 10 months as reduced curbs on imports boost supplies, according to the All India Gems & Jewellery Trade Federation. The fees that jewelers pay banks and other importers for gold may drop to $25 an ounce to $30 an ounce over the London cash price next month, the smallest since August, said Bachhraj Bamalwa, a director at the association that represents 300,000 jewelers and bullion dealers. The premium was $50 on Tuesday.Click on chart for large chart pop-up.