Asia gold-buyers welcome lower prices, Indian dealers trim discounts

Reuters/Rajendra Jadhav and Bharat Gautam/7-22-2022

photo of pouch with gold coins spilling out into foreground

“Physical gold demand picked up in some Asian hubs this week as softer prices drew buyers, allowing dealers in India to narrow discounts and driving up premiums in Singapore.”

USAGOLD note: Asia buys the dips for a very simple reason. It has a cultural affinity for the metal based on long experience dealing with economic uncertainty. So when the price comes down, it is seen as an opportunity to add more wealth insurance at easier prices…… A good many Westerners view gold the same way. In fact, the bulk of our clientele holds a similar viewpoint.

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