the price of gold: can't fly, page-27

OK, so Indian physical buyers are paying up to 10% premiums, but the import restrictions make it a different market:

Analysts reported that gold premiums have been around $100 an ounce ahead of Diwali, reportedly once even getting as high as $140.

“Even with such high premiums, nobody can import,” Sin said. “You can see Indians are buying. They’re really paying up. It shows they are desperate.”

http://www.forbes.com/sites/kitconews/2013/10/24/focus-indian-gold-premiums-soar-on-lack-of-metal/2/