Gold prices just reached another all-time high, yet the story beneath the surface tells a more nuanced tale. Indian gold discounts have expanded considerably, reflecting divergent regional demand patterns. Meanwhile, Chinese buyers are showing noticeably muted interest—a significant shift given the country's historical role as a major gold consumer. This divergence raises questions about how macro economic pressures are reshaping precious metals markets globally. For crypto investors tracking correlation patterns between traditional assets and digital markets, these moves deserve attention as indicators of broader economic uncertainty and capital flows.