register now for free unlimited access to reuterscom register sept 2 reuters  gold premiums in top consumer china continued their rapid ascent to their highest since the tailend of 2016 on soft buying interest while a drop in local prices prompted indian dealers to charge premiums for the first time in nearly four months in shanghai gold was priced as much as 25 an ounce over the international gold prices  the highest since december 2016 that compares with 816 quoted last week the high premiums are predisposed by the lockdown in shenzhen on covid flare ups as well as no news on import quotas being issued that could affect industrial activities said bernard sin regional director for greater china at mks pamp the peoples bank of china controls how much gold enters china via quotas to commercial banks theres less customer interest so in the shanghai exchange trading is very thin but the premium is very high said peter fung head of dealing wing fung precious metals hong kong saw gold sold between flat to 2 premiums in india premiums on gold sales made a comeback this week as a hefty correction in local prices boosted retail demand demand has improved this week because of price drop traders have started quoting premium since imports were down in the past few weeks said ashok jain proprietor of mumbaibased wholesaler chenaji narsinghji premium of up to 2 an ounce over official domestic prices inclusive of the 15 import and 3 sales levies were charged up from the last weeks discount of 7 some jewellers were making purchases for the upcoming festive season but many were still awaiting a further dip in prices said a mumbaibased dealer with a private bullion importing bank in singapore gold traders charged 150230 over spot prices unchanged from recent weeks while in japan bullion was sold between at par to spot prices to a 050 premium reporting by bharat govind gautam and eileen soreng in bengaluru rajendra jhadav in mumbai editing by shailesh kuber