SINGAPORE:
Gold premiums in Singapore and Hong Kong rose on growing appetite for
physical gold from Asia's investors, after prices fell off a record
above $1,900 hit last week.
An upcoming festival and wedding season in India and a week-long holiday in early October in China are expected to help boost gold appetite.
"Prices came down from the peak last week -- this is the main cause behind the buying," said a Singapore-based trader, adding that most buying came from households seeking to use gold to hedge against inflation and economic uncertainties rather than jewellers.
An upcoming festival and wedding season in India and a week-long holiday in early October in China are expected to help boost gold appetite.
"Prices came down from the peak last week -- this is the main cause behind the buying," said a Singapore-based trader, adding that most buying came from households seeking to use gold to hedge against inflation and economic uncertainties rather than jewellers.
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