Gold demand in India has seen a significant decline this week as prices have risen, with spot gold trading at ₹1,52,600 ($1,614.05) per 10 grams, marking a 57% increase over the past year. Retail demand is particularly weak despite the ongoing wedding season, which traditionally boosts gold purchases. Dealers have reported discounts of up to $15 per ounce and premiums of $6 over domestic prices, compared to last week's discounts of $5 and premiums of $9. This decline in demand is further exacerbated by a projected drop in April gold imports to around 15 metric tons, the lowest in nearly 30 years, attributed to unexpected tax demands affecting banks. Meanwhile, in China, gold premiums remain firm at $14 to $20 per ounce over the global benchmark, reflecting safe-haven buying amid geopolitical uncertainties and inflation concerns. China's central bank has also continued its gold accumulation for the 18th consecutive month, underscoring persistent investment interest.