Commodity Trade Mantra

Posts Tagged ‘International Gold Prices’

India's Obsession & President Trump to Boost Gold Demand

The return of physical gold demand in India after two successive droughts is a huge cushion for international gold prices and with the ongoing wedding season and the upcoming list of festivals, the prospect of a further rise in gold demand looks bright. Appreciation in the Indian rupee has come as a blessing in disguise for buyers who were postponing gold purchases.

India Precious Metals Import Explosive – August Gold 126t, Silver 1,400t

In the month of August 2015, India imported 126 tonnes of gold and 1,400 tonnes of silver. Year-to-date India has imported 654 tonnes of gold, up 66% y/y & 6,782 tonnes of silver up 96 % y/y. Silver import is on track to reach an annualized 10,172 tonnes, up 44 % y/y! This would be a staggering 37 % of world mining.

Precious Metals Aspirations Of The Biggest Bank In The World: ICBC

When the precious metals department was established, ICBC Chairman Jiang Jianqing said: “We have the ambition that ICBC becomes a world-class commercial bank in precious metals investment management.” In 2013, ICBC physical gold sales increased by more than 80% YoY.

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