Higher domestic price and monsoon dents Indian gold demand in June
Summary
- Indian gold imports were 62t in June 2019 – up slightly on the same month last year
- The domestic gold price was 6.1% higher in June as compared to end of May
- With higher domestic gold prices, the local discount in the gold market reached $23/oz (1.6% to the international price) by end of June
- Higher and relatively volatile prices encouraged gold futures trading on MCX: volumes touched a high of 28.2t in June
