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Gold discounts in India widened this week to their highest point in nearly eight months

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Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.

Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.

“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.

India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.

In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium

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National News

Divine Solitaires Announces Special Dhanteras Offers On Diamond Coins

The Festive Offer, Available From 26 October To 6 November, Includes Assured Gifts, A Lucky Draw and Price Protection

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Divine Solitaires, India’s leading natural diamond solitaires brand, is offering special Dhanteras benefits on its Diamond Coins from 26 October to 6 November 2026. The offer includes an assured gift with every eligible purchase, a lucky draw with 100% cashback vouchers for 10 customers, and price protection.

Dhanteras is considered an auspicious occasion to welcome prosperity and good fortune, with many families purchasing precious metals and jewellery as part of the tradition. Divine Solitaires’ Diamond Coin brings natural diamonds into this festive tradition and is available in three variants: a 1-gram coin featuring a 0.10-carat diamond, a 2-gram coin featuring a 0.14-carat diamond, and a 3-gram coin featuring a 0.18-carat diamond.

As part of the Dhanteras offer, customers purchasing any of the three Diamond Coin variants will receive a Laxmi Ji gold frame as an assured gift. Additionally, 10 customers will be selected through a lucky draw to receive a 100% cashback voucher, redeemable against their next purchase.

The offer also includes price protection, allowing customers to benefit if gold prices fall before delivery while remaining protected against price increases. This gives customers added assurance when making their festive purchase.

Commenting on the evolving diamond industry, Jignesh Mehta, Founder and MD of Divine Solitaires, said:

“Dhanteras has traditionally been associated with bringing home precious possessions as a symbol of prosperity and good fortune. Over the years, the way consumers celebrate this occasion has evolved, creating opportunities for natural diamonds to become a part of these meaningful traditions. I believe the future of the Indian diamond industry lies in building greater consumer awareness, strengthening trust and making natural diamonds more accessible to a wider audience. At Divine Solitaires, we remain committed to contributing to this evolution through our focus on quality, transparency and innovation.”

Each Divine Solitaires Diamond Coin features natural diamonds cut in the brand’s 8Hearts8Arrows pattern. The brand’s focus on quality and transparency is supported by a quality guarantee certificate based on 123 quality checks. Divine Solitaires also offers upgrade and buyback facilities, subject to applicable terms and conditions.

The Dhanteras offer is available from 26 October to 6 November 2026. Terms and conditions apply.

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