The gold market remains firm in India
The gold market remains firm in India Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - India is one of the biggest gold consumers in the world a is and some of the latest statistics have been released by the World Gold Council. Today golding at $1826/oz around 0.22% higher after a tough session on Thursday. Retail demand in India remained strong during the first three weeks of May due to wedding- and festival-related purchases before slowing towards the end of the month. The local market surged to a premium of US$4-5/oz by the third week of May but flipped back to a discount of US$3-4/oz by the end of the month as retail demand softened Official imports remained firm at 98t in May, significantly higher than official imports in April this year (27.1t) and May 2021 (11.4t) Looking at investment ETFs witnessed a modest net inflow o...