Indian gold demand softened this week due to rising global prices and a weaker rupee, while China maintained firm premiums. Jewelers are hesitant to build inventory amid weak retail sales. Overall, long-term Chinese demand is expected to stay robust.

• India: Discounts up to $49/oz, demand subdued.
• China: Premiums $16, $30/oz, strong investor conviction.
• Global Spot Gold: Set for biggest weekly gain.