Prices are dipping around the world, but at the same time, people are starting to buy more—especially in places like India. In fact, for the first time in two months, gold in India is selling at a premium. Looks like shoppers there saw the lower prices and jumped on the opportunity. That’s how it usually goes; Indian buyers tend to move fast when they spot a deal.
But there’s more to the story. The ongoing tension between the US and Iran should, in theory, push investors toward gold for safety. That’s usually bullish for the metal. Oddly, though, this time a lot of institutions are hedging with oil instead. In the past, those flows would have boosted gold directly. Now? It’s a split picture and tough to call where gold heads next.
