It is a daily assessment reflecting the value of gold for delivery into the Indian market. The premium -- sometimes a discount -- reflects the logistical cost and market fundamentals affecting the Indian gold market .International markets dictate the gold bullion price as traders react to economic factors and events. Their view of the effect these may have on the gold price can often be disconnected from the market fundamentals where gold is actually purchased.Our Platts Gold Premium 995 India price assessment (PGPI995) connects the prevailing international price for gold bullion with the wholesale value of gold kilobars in India -- one of the world's most important end-user markets.The daily value of that premium in US dollars per troy ounce is based on our survey of banks, traders and dealers in various Indian cities. We collate and verify information which we then normalize using our rigorous longstanding methodology to our Indian gold premium standard: a kilobar of fine gold quality 995, available within 48 hours in the City of Ahmedabad, the traditional center for the gold trade.The Platts Gold Premium 995 India price assessment is available in these services.
Platts Gold Premium 995 India (PGPI995) reflects the repeatable, transactable price of fine gold kilobars normalized to the above specifications. Assessments are completed on a daily basis, reflecting the spot market value of transactions, bids and offers from a particular day.Market commentaries and assessment rationales highlighting bids, offers and confirmed transactions are published in our daily Market Report, Platts Metals Daily, our real-time information service, Platts Metals Alert and our end of day price feed service, Market Data - Metals.
The Gold Premium 995 India price assessment can be accessed in the following Platts services:
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