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US demand for gold squeezes India's supply
Mint Mumbai
|February 12, 2025
Gold leasing rates in India have doubled within a month to a record high, following the overseas market, where rates jumped due to a supply crunch as global banks divert the precious metal to the US, industry officials said.
Higher leasing rates are driving up jewellery production costs in the world's second-largest gold consumer and could squeeze margins of jewellers such as Titan, Kalyan Jewellers, and Tribhovandas Bhimji Zaveri.
Gold leasing rates, which traditionally hover around 1.5% to 3%, have more than doubled in a month and could rise further, Shekhar Bhandari, president and business head of Kotak Mahindra Bank said.
Dit verhaal komt uit de February 12, 2025-editie van Mint Mumbai.
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