Commodity Trade Mantra

Posts Tagged ‘India Gold Demand’

India Gold Demand Surges 450%, Bank of Russia Demand At 15 Year High

Gold imports into India in Sept were worth $3.8 billion, up 449.7% y/y & almost double the $2 billion in Aug as, once again, the Indian middle class used the opportunity of a weakened gold price to increase their holdings. Russia’s central bank added a very large 37.3 tonnes of gold to it’s reserves in Sept – it’s largest purchase in 15 years.

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