Commodity Trade Mantra

Posts Tagged ‘Indian Government’

Regarding Gold - You Should Think Like an Indian

All Indians own gold & keep it as close as possible, as jewellery, since “wearing wealth” means that it can be kept very close. Throughout the ages, there have always been governments that have attempted to part people from their wealth. It may well be that the first step for each of us succeeding in retaining our wealth might be to think more like an Indian.

Gold, Governments and Central Banks

Governments and central banks are frequently criticized by goldbugs for being anti-gold. Examples include the Indian government restricting gold import, the US government refusing to carry out a full audit of the US Treasury’s gold holdings and the Swiss government and central bank strongly opposing the “gold initiative” demands.

India Imports 462 MT of Silver in January

As a result from the restrictions in gold trade is that many Indians flocked to silver. In January 2014, India’s gross silver import was 461 metric tonnes. Indian net silver import for 2013 broke all records at 6016 metric tonnes. The Indian gross monthly import average in 2013 was 512 metric tonnes.

Silver Bullion Imports by Gujarat hit 5-year High

Many bullion traders shifted to Silver on account of the extremely high duty on gold. Silver imports by the state of Gujarat totaled 1,526 mt during April 2013 to January 2014, surpassing the earlier record of 1,497 mt achieved during the corresponding ten-month period in 2008-2009.

Curbs On Gold Imports In India To Stay Despite Easing Trade Gap

India will keep a tight leash on gold imports despite a recent improvement in its trade deficit and lobbying by a bullion industry struggling with high premiums and a supply crunch – Indian importers have never been subject to restrictions and that is why they are finding this very painful.

Indian Government May Cause Gold Pullback

The Indian government finally succeeded in stifling gold imports in August and are expected to be shockingly down to 2.5 tonnes, considering that India represents the largest chunk of global demand and imported an average 72 tonnes per month in 2012.

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