Loading...
Loading...
This page groups the premium observations currently stored by the site by calendar month. The chart can help readers explore whether some months have recorded higher or lower average premiums, but the available history is limited and does not establish a reliable seasonal rule. Exchange rates, taxes, market closures, data availability, and one-off events may have more influence than the calendar itself.
Each bar shows the arithmetic mean of the stored premium or discount observations for that market and calendar month, measured against the USD spot benchmark. A value above zero means that the available observations averaged above the benchmark; a value below zero means they averaged below it. A taller bar indicates a larger average premium in the stored sample, but it does not by itself prove stronger seasonal demand. Exchange rates, taxes, market closures, data-source differences, outliers, and the number of available observations can all affect the result. The tooltip shows the sample count so readers can see how much data contributed to each average, but a larger count alone does not establish statistical confidence. Use the toggle above the chart to compare gold and silver.
Chinese gold demand can change around the Lunar New Year, major holidays, wedding periods, and shifts in import policy. These events may affect SGE prices, but their effect is not identical every year and can be outweighed by exchange rates, global gold prices, import quotas, inventories, and market closures. The monthly averages shown here describe only the observations currently stored by this site. They should be treated as historical summaries, not as proof that a particular month will consistently produce a higher premium.
Gold purchases in India can increase around festivals such as Akshaya Tritiya and Diwali, as well as during parts of the wedding season. These periods may contribute to changes in local demand, but an MCX premium cannot be attributed to festival demand alone. The rupee exchange rate, import duty and GST rules, international gold prices, inventories, unofficial import flows, and differences in market timing can all affect the observed premium. The monthly averages on this page summarize the data currently stored by the site and should not be treated as a forecast for future festival periods.
Trading activity in London and other Western markets may become lighter during parts of the Northern Hemisphere summer. Lower participation can sometimes affect spreads and short-term price differences, but the effect is neither guaranteed nor necessarily visible in this site’s daily observations. The value labelled LBMA on this site is a vendor-supplied LBMA-related field, not a complete measure of London market liquidity or an official intraday LBMA premium. The monthly averages should therefore be read only as a summary of the observations currently available, not as evidence of a repeatable summer-to-autumn pattern.
Year-end portfolio adjustments, reduced holiday staffing, changes in market liquidity, and the timing of institutional transactions may affect gold and silver prices around December and January. However, this site does not collect fund-level positioning or central-bank transaction schedules, so its premium data cannot identify which of these factors caused a particular monthly result. Differences observed around year-end may also come from exchange rates, holidays, stale closing prices, or a small number of observations. The chart should be used to review the stored monthly averages, not to infer a recurring institutional trading strategy.
The chart is based on daily snapshots currently retained by the site, not continuous intraday observations. Source prices and exchange rates may have been recorded at slightly different times, and holidays, missing values, stale closes, source changes, or unusually large observations can affect a monthly average. Estimated benchmark-derived market rows are excluded, but the remaining vendor-supplied values may still differ from an exchange’s official settlement or fixing. A longer selected period usually adds observations, yet it does not automatically remove bias or make a seasonal interpretation statistically reliable. Compare the sample counts and date coverage before drawing conclusions, and do not use a monthly average as a trading signal or forecast.
This page is for informational purposes only. See our Disclaimer for more information.