Physical gold buying picked up pace in major Asian centres this week as lower prices fuelled appetite for the metal, with India seeing healthy demand ahead of the festive season despite a rise in domestic rates to a two-month high.
In India, the world’s second-biggest consumer of the metal after China, gold futures rose to 30,700 rupees ($428) per 10 grams on Thursday, a peak since July 9.
Demand in India usually strengthens in the final quarter as the country gears up for the wedding season and major festivals such as Diwali and Dussehra, when buying gold is considered auspicious.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.