Tag: gold in india

10 Remarkable Gold And Silver Trends Going Into 2015

| January 4, 2015 | Category: Investing
10 Remarkable Gold And Silver Trends Going Into 2015

The chart setup for gold and silver does not really look like prices are ready to move much higher, at least not in the short run. Excellent chart analysis of gold and silver was provided by Michael Noonan in Gold And Silver Charts Going Into 2015: Expect More Of The Same, courtesy of ChartAnalyst.expert. Although we should not expect fireworks in terms of price, there are some favorable trends “under the hood”. They do not reflect the generally accepted pessimism towards the metals among investors. Our belief is that it will take some time until the price will move back in line with these fundamental trends. Until then, gold or silver owners can rest assured that the gold and silver market is not as bad as some would like to make you believe.

Continue Reading

Dramatic Increase in Gold Flows into China

Dramatic Increase in Gold Flows into China

The larger rationale for holding precious metals is even better – when times are good and people have more disposable income, as literally hundreds of millions of “Chindians” are in the process of achieving right now – the buy-and-hold demand for precious metals looks destined to rise in a big way and continue doing so in the foreseeable future.

Continue Reading

Is The Exploding Indian Scrap Gold Supply Actually Smuggled Gold?

Is The Exploding Indian Scrap Gold Supply Actually Smuggled Gold?

Suchecki writes: “Indian Jewelers will not want the Indian Government to think their gold import tax policy is not working. Thus, gold purchased from smugglers will be increasingly reported by jewelers as Scrap/Recycled and they will report record demand of Indians turning in their old jewelry to be updated to new, fashionable designs.”

Continue Reading

Gold Outlook – Love Trade And Fear Trade Likely To Return

| November 30, 2013 | Category: Investing
Gold Outlook – Love Trade And Fear Trade Likely To Return

India’s growing GDP is very important to gold’s rise, especially when it comes to the Love Trade, where about 50% of the world’s population buys gold out of love. The math shows that an increasing GDP per capita in this part of the world has historically been linked to the rising price of gold. Related to the Fear Trade gold has recently become less attractive due to the slightly positive real interest rates in the U.S.

Continue Reading

With India’s Market Interventions, Thailand’s Gold Demand Is Up 125%

With India’s Market Interventions, Thailand’s Gold Demand Is Up 125%

The article in The Economist explains that the Indian insatiable demand for gold has resulted in a surge in gold smuggling. Customs officials at airports in India, Nepal and Bangladesh seem to report a spike in gold originating from other Asian countries like Abu Dhabi, Bahrain and Dubai. According to the article, “the effects of India’s attempts to curb gold imports are most widely felt in Thailand.”

Continue Reading

India: Gold Premiums Exceed 21%, Gold Price Near All-Time Highs

| November 15, 2013 | Category: Price
India: Gold Premiums Exceed 21%, Gold Price Near All-Time Highs

After the dollar, euro, pound and yen, it is now gold in Indian Rupees that is about to make a new all-time high. Adding the local gold premium to the gold price, Rupee gold is the most expensive ever. The Indian government has taken close to 20 measures in the last two years to discourage gold purchases and gold imports. That has “supported” the rise of the gold premiums. In particular, the import duty which was raised to 10% in August had a significant impact.

Continue Reading

Claudio Grass: Monetary Collapse Likely Because Of Too Much Debt

Claudio Grass: Monetary Collapse Likely Because Of Too Much Debt

In this interview with Claudio Grass, our friends at SGTReport talk through several fundamental points related to free markets (Austrian economics), the concept of money and the precious metals markets. Claudio Grass is the Managing Director of Global Gold, a bullion company specialized in storage of physical precious metals outside the banking system in safe jurisdictions like Switzerland. We have chosen four underexposed insights related to gold.

Continue Reading

Gold’s Protective Power In Action: India’s Ongoing Currency Destruction

Gold’s Protective Power In Action: India’s Ongoing Currency Destruction

The following paragraphs, quotes and charts paint a picture of a country desperately trying to save its economy and currency. The victims of this situation are of course the citizens. In their attempt to run to gold, they are stopped by their own government. How ironic is this situation when looking as an outsider. Did you ask yourself: am I prepared if this situation hits my country? In this global currency war, that just started two years ago and is expected to last till at least 2020, every country will be hit sooner or later. Are you prepared?

Continue Reading

The Lesson Of India’s Gold Saga

The Lesson Of India’s Gold Saga

The gold price in Indian Rupee dropped in 2013 led by the world spot price. Indians, in the land of the love trade, considered this as an excellent buying opportunity. The need to accumulate physical gold became bigger. It was no coincidence that Indian citizens have been fleeing to gold in a real rush. The government reacted by issuing one sanction after another to stop their citizens from one of their basic rights, i.e. the protection of their financial health.

Continue Reading

India – Gold Control Results In Increased Smuggling

India – Gold Control Results In Increased Smuggling

Smuggling of gold seems to be increasing month on month. It is mostly coming from Dubai but also from Bangkok and Singapore. The value of the gold seized during the quarter was 270 million rupees. That is more than 10 times the 25 million rupees of precious metal retrieved from smugglers one year earlier.

Continue Reading

Indian Government Desperately Tries To Discourage Gold Demand

Indian Government Desperately Tries To Discourage Gold Demand

In an attempt to save their local currency and control the current account deficit India is imposing measures to control gold demand and trade. The first measure which was announced earlier this week imposes a ban on bank credit for gold imports the Reserve Bank Of India. Today, India announces an increase of the import duty.

Continue Reading

Indian Central Bank Aims To Transfer Massive Physical Gold Into Banking System

| February 6, 2013 | Articles: General
Indian Central Bank Aims To Transfer Massive Physical Gold Into Banking System

India has traditionally been the largest consumer and importer of gold. Some 20,000 tonnes of gold is held by households currently. The Reserve Bank of India aims to profit from the existing gold holdings and new imports in an attempt to decrease the country’s current account deficits. In the most recent report, RBI details their approach and reveals their only interest is to create profits from the massive citizens’ physical gold demand.

Continue Reading

Gold Bull Market Not Over But Gold Futures Show Disconcerting Bearishness as Greece Faces June Deadline

Bullion and Gold Futures prices dropped further again Monday morning, losing 1.3% to hit $1560 per ounce in London trade as commodities, world stock markets and the Euro currency all sank once more amid a failure in Athens to negotiate a coalition government. The Greek state may be unable to pay salaries and pensions “from the beginning of June” according to stand-in prime minister Lukas Papadimos – warning party leaders in a letter leaked to the press today – because May’s tranche of the international bail-out was cut and tax revenues are falling. Spanish police this morning evicted the last 200 “indignant” demonstrators from Madrid’s Puerta del Sol after another weekend of protests. The […]

Continue Reading

Nepalese currency under pressure

Gold priced in Nepalese rupees hit a new record high per troy ounce earlier this month, at 56,000 Nepalese rupees per tola. After neighbouring India recently announced a rise in its gold import taxes from 2 to 4%, the Nepalese government had no choice but to raise its own gold import taxes in response, in order to avoid smuggling activities at its borders. The small Himalayan state is often forced to make political and economic adjustments depending on policy in Delhi. So gold import taxes have climbed from 1,750 to 2,680 Nepalese rupees. Sales of gold jewellery dropped in response. However, continuing weakness in the Indian and Nepalese rupees is helping […]

Continue Reading