Why are Indian gold dealers offering discounts instead of premiums now?

Dealers flipped to discounts up to about $12 per ounce because buyer traffic slowed at elevated rupee prices and inventories need to move. Anticipation of concessional imports under the India-UAE CEPA also cools premiums by signaling lower future landed costs. When supply looks easier and demand softens, wholesalers cut quotes to stay competitive. This often leads to short-term price consolidation rather than a sustained slide.

How could the India-UAE CEPA affect the gold price in India today?

If concessional import windows open, eligible shipments from the UAE land at lower duty than the standard route. That trims the gap between global spot and local prices by reducing premiums. The effect shows up first in wholesale bars, then in retail coins and jewellery. The scale depends on allocation size, timing, and rupee moves. Investors should track customs notices, import arrivals, and MCX-spot spreads for confirmation.

What does the silver rebound imply for gold buyers in India?

Silver’s rebound suggests better industrial and investor interest, which can lead to tactical rotation toward silver while gold consolidates. For diversified precious metals exposure, this can help smooth returns. Still, gold remains the core defensive asset for Indian portfolios. Use the gold-silver ratio, jeweller premiums, and liquidity checks to time entries. Keep silver as a smaller, cyclical sleeve aligned with your risk and time horizon.

How should I plan purchases when dealers are quoting discounts?

Use staggered buys to average cost, and set alerts for MCX front-month and local quotes. Compare total acquisition cost, including premiums, making charges, and GST, not just the headline discount. Prefer high-liquidity coins or bars with recognized refiners for easier resale. For long-term goals, consider ETFs or sovereign gold bonds. Review positions quarterly and adapt if CEPA-linked imports compress premiums further.

Global Market Insights

India Gold Prices February 14: Dealers Shift to Discounts on Weak Demand

ByHuzaifa Zahoor February 14, 2026

Gold price in India today is under pressure as bullion dealers switch from premiums to discounts of up to $12 per ounce amid weak retail demand. Traders are also positioning for potential concessional imports under the India-UAE CEPA, which could trim landed costs and narrow domestic premiums. At the same time, silver is rebounding, drawing tactical flows. We break down what this shift means for near-term prices, how policy may affect supply, and how investors in India can plan entries with better risk control.