First time since Budget, gold trading at 0.5% premium over landed cost

Even as demand for gold remains weak, its price has seen some turnaround in the past two months. The yellow metal now trades at a 0.5 per cent premium over its landed cost, compared to a 4 per cent discount in mid-September because jewellers have voluntarily withdrawn the display of cash price from their website.

Gold has been selling at a premium for the first time since the Union Budget for 2019-20, presented on July 5, when import duty on gold was raised to 12.5 per cent, from 10 per cent earlier.

Trading currently at Rs 38,230 per 10 gm, standard gold