Gold Silver Reports (GSR) – FUNDAMENTALS — Scrap gold supplies in India, the world’s second-biggest consumer of bullion, may increase this quarter as a rally in local gold prices has prompted consumers to sell old trinkets and jewellery.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, saw outflows for five straight sessions last week.
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Demand for physical gold in India rose last week as jewellers stocked up for a major exhibition, allowing dealers to cut discounts to the lowest in two months, while the Lunar New Year holiday kept activity subdued in other major Asian hubs.
Trade tensions between the two largest economies of the world have rattled financial markets since last year.
