Commodity Trade Mantra

Posts Tagged ‘Gold Consumer’

India - A Critical Consumer Is Buying Gold For The First Time In 3 Weeks

The good news for the bullion market is that India will now be buying gold again — for the first time since February. That should give a lift to gold prices — especially with reports suggesting there is a lot of “pent up” demand here after the 19-day strike. Watch for imports into India to rise for the coming weeks, and potentially lift the gold price. Here’s to a triumphant return.

Russian Bear—or Gold Bull?

Russia announced that it’s central bank bought about 150 tonnes of gold this year. Fact is that Russia has been buying gold for years. This trend has taken Russia’s gold holdings from around 400 tonnes 13 years ago to a fast approaching 1,200 tonnes at the end of 2014. A clear message: Russia prefers to hold gold more than the US dollar.

Gold Imports Phenomenal In India - Up 571% To 150 Tonnes in Nov

Some of the restrictions that were imposed on Indian gold imports in August of 2013 were lifted at the end of last month. Despite the fact that all the restrictions were still in place, gold importation in November surged an incredible 571% relative to the same month last year at over 151.58 tonnes.

The Truth about China’s Massive Gold Hoard

The Chinese think differently about gold. They view gold in the context of its role throughout history & dismiss the Western economist who arrogantly declares it an outdated relic. They buy gold in preparation for a new monetary order, not as a trade they hope earns them a profit. Don’t you worry about gold prices. China’s got your back.

The Role of India in the Global Gold Market

With such a long pro-gold culture and tradition at the individual and official levels, the role of India in the gold market should not be underestimated. In any reset of the international monetary system, such a large possessor of gold in official and private hands will also play a major, if not a principal, role.

Modi the new hope for Gold, but may disappoint: Clyde Russell

Gold bulls tend to flit from one thing to the next in search for a reason for gold to rally, with the latest hope being Modi’s election victory in India. Modi is likely to be reluctant to give a signal that it’s “game on” for gold imports again, as he won’t want the current account deficit to start heading the wrong way once more.

Gold Trade in India Thrives on Uncontrollable Demand

Despite the Indian government having raised the import duty on gold thrice in 2013 to finally at 10%, India’s gold demand is still remarkably high. As a result, gold smuggling is thriving in India – the World Gold Council notes in a recent report that illegal imports came to around 200 tonnes in 2013.

Gold Trading to Open up to Foreigners in Shanghai

Shanghai Gold Exchange is poised to get the jump on other mainland equity & commodity trading bourses by launching a gold trading platform in the city’s free-trade zone open to foreign investors. Foreign institutions & individuals could open accounts in the zone that are designated for gold trading.

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