India's gold market shows stark divergence as discounts hit near-decade highs while China's demand surges. Indian bullion dealers offered discounts up to eighty-three dollars per ounce this week, the highest since July 2016, as weak retail demand and year-end account closures kept jewellers sidelined. Some importers are exploiting tariff loopholes by misclassifying gold as platinum-studded jewellery to avoid the six percent import duty. Meanwhile, Middle East tensions are driving safe-haven demand in China, where premiums jumped to twenty to thirty dollars per ounce from thirteen to fifteen dollars previously. China's central bank extended its gold buying streak to sixteen consecutive months while maintaining tight import quotas. The divergence reflects regional economic pressures and geopolitical risk appetite across Asia's major bullion markets.
