Gold imports rise in China and India amid record prices, with gains also seen in silver and platinum

China and India continue to import large quantities of gold despite record-high prices, driven by seasonal demand during the festival and wedding seasons.
Switzerland’s exports to the region surged significantly, with August shipments to China and India exceeding $3 billion. Investment demand for gold is also rising, as seen in the increase of non-commercial gold contracts on COMEX and higher holdings in gold-backed ETFs.

Gold prices reached a new record high of $3,831.45 per ounce before stabilizing around $3,827.71, marking a 1.8% gain during the session.

Meanwhile, silver inventories continue to decline, supporting a rally that pushed spot silver prices above $46 per ounce — their highest level in nearly 14 years.

LBMA silver inventories fell 7.5% year-on-year, while registered COMEX stocks remain limited at only 193 million ounces. Silver ETF holdings rose to 820 million ounces, indicating moderate investor participation despite the rally.
Platinum prices surpassed $1,500 per ounce, hitting their highest level this year as the market remains tight. Although platinum production in South Africa has returned to normal levels, the market remains tense, with spot platinum trading at $1,593.40 per ounce, up 1.29%.