ANL 14.51 Increased By ▲ 0.13 (0.9%)
ASC 13.30 Increased By ▲ 0.10 (0.76%)
ASL 14.00 No Change ▼ 0.00 (0%)
BOP 8.37 Increased By ▲ 0.02 (0.24%)
BYCO 6.50 Increased By ▲ 0.05 (0.78%)
FCCL 17.80 Increased By ▲ 0.12 (0.68%)
FFBL 26.00 Decreased By ▼ -0.01 (-0.04%)
FFL 11.15 Decreased By ▼ -0.08 (-0.71%)
FNEL 10.72 Increased By ▲ 0.03 (0.28%)
GGGL 14.90 Decreased By ▼ -0.35 (-2.3%)
GGL 31.40 Increased By ▲ 0.55 (1.78%)
HUMNL 6.22 Decreased By ▼ -0.21 (-3.27%)
JSCL 17.00 Decreased By ▼ -0.10 (-0.58%)
KAPCO 31.48 Increased By ▲ 0.68 (2.21%)
KEL 3.20 Decreased By ▼ -0.03 (-0.93%)
MDTL 2.20 Decreased By ▼ -0.05 (-2.22%)
MLCF 33.80 Increased By ▲ 0.55 (1.65%)
NETSOL 97.25 Decreased By ▼ -1.15 (-1.17%)
PACE 4.22 Decreased By ▼ -0.10 (-2.31%)
PAEL 23.00 Decreased By ▼ -0.06 (-0.26%)
PIBTL 7.43 Decreased By ▼ -0.14 (-1.85%)
POWER 6.65 Increased By ▲ 0.10 (1.53%)
PRL 13.50 Decreased By ▼ -0.30 (-2.17%)
PTC 8.90 Increased By ▲ 0.03 (0.34%)
SILK 1.30 Decreased By ▼ -0.06 (-4.41%)
SNGP 39.66 Decreased By ▼ -0.14 (-0.35%)
TELE 16.40 Decreased By ▼ -0.45 (-2.67%)
TRG 87.40 Decreased By ▼ -1.50 (-1.69%)
UNITY 25.22 Decreased By ▼ -0.24 (-0.94%)
WTL 2.10 Decreased By ▼ -0.03 (-1.41%)
BR100 4,519 Increased By ▲ 21.96 (0.49%)
BR30 18,277 Decreased By ▼ -62.37 (-0.34%)
KSE100 44,114 Increased By ▲ 178.41 (0.41%)
KSE30 17,034 Increased By ▲ 94.74 (0.56%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,709
524hr
Pakistan Cases
1,284,189
30324hr
0.82% positivity
Sindh
475,248
Punjab
442,950
Balochistan
33,479
Islamabad
107,626
KPK
179,928

Physical bullion markets in major Asian hubs saw a sharp divide this week with some regions seeing a surge in demand, while others grappled with strained supply and muted activity amid global lockdowns due to the coronavirus.
"It's just a lot of strange things happening in the market now, because in some parts of the world, you will see massive premiums on gold, while other parts have discounts - just boils down to logistics and supply chain disruptions," said Saxo Bank analyst Ole Hansen.
While high value bullion bars are available, low denominations are in short supply, he added.
The market has been plagued by supply concerns following the shutdown of major Swiss refineries and air travel lockdowns.
"The name of the game now is which dealers can supply their clients and where, and which ones have enough inventory," said Joshua Rotbart, managing partner, J. Rotbart & Co in Hong Kong.
Top consumer China saw weak demand, with gold sold at $15-$20 discounts over benchmark spot prices.
"Gold is a luxury. People would rather go to the supermarket than buy gold," said Ronald Leung, chief dealer, Lee Cheong Gold Dealers in Hong Kong.
Trading was suspended for a second straight week in India amidst a lockdown.
Retail buying could slow due to higher prices even after the lockdown, said a Mumbai-based dealer with a private bank.
Indian gold futures soared to a record 45,800 rupees per 10 grammes on Friday, tracking recent gains in global markets as gold is seen as a safe haven and helped by a weak rupee.
In Hong Kong, some retailers saw good demand.
"We continue to see strong demand across the board from both new and regular customers, both retail and wholesale," said Keanan Brackenridge, product Manager at LPM Group Ltd, adding premiums on retail gold have jumped.
Demand surged in Singapore, meanwhile, pushing premiums to $1.60-$2.00 an ounce from last week's $1.20-$1.60, with traders still seeing a sharp disconnect between spot and physical prices.
"People are trying to accumulate for protection in uncertain times," said Spencer Campbell, director at Precious Metals Consultants SE Asia Consulting in Singapore, adding silver demand as outstripped gold of late.

Copyright Reuters, 2020

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.