India extends UAE gold import authorisations to June 30 - Reuters

India extending UAE gold import authorizations through June signals sustained physical demand despite elevated prices. This matters because India typically consumes 700-800 tonnes annually, making it the world's second-largest gold market after China. The UAE serves as a key refining and trading hub for Indian imports. When governments actively facilitate gold flows rather than restrict them, it tells you something about underlying demand dynamics. Indian wedding season runs through May, so keeping import channels open suggests jewelers are still seeing buyers even at these levels. Physical markets in Asia continue absorbing supply while Western paper markets wrestle with technical levels.