|Chennai||Rs. 24840.00 (-0.36%)|
|Mumbai||Rs. 25460.00 (-0.16%)|
|Delhi||Rs. 25450.00 (2.21%)|
|Kolkata||Rs. 25000.00 (0%)|
|Kerala||Rs. 24700.00 (0%)|
|Bangalore||Rs. 25050.00 (1.42%)|
|Hyderabad||Rs. 24930.00 (1.63%)|
Gold premiums in India, the world's biggest buyer of the metal, jumped on Thursday due to short supplies even as traders, looking to stock up for festivals, waited for prices to fall further from their highest level in more than a month.
Premiums rose four fold to $20 an ounce on London prices on Thursday after the Reserve Bank of India tightened gold imports, making them dependent on export volumes with an eye to reducing a record current account deficit.
"Premiums have shot up as there is no gold supply, even after paying $20 premium, it is difficult to get gold," said Bachhraj Bamalwa, a director at the All India Gems and Jewellery Trade Federation, adding "banks are not committing anything for supply of gold for next week."