Commodity Trade Mantra

Posts Tagged ‘Rupee’

Gold Was Up 73% Last Year!

The price of gold rose against ALL currencies in 2014 — except the US dollar. Yes, gold was up in the euro, Japanese yen, Swiss franc, Canadian dollar, British pound, Australian dollar, New Zealand dollar, Chinese renminbi, Indian rupee, Swedish krona, Brazilian real, Israeli shekel, and South Korean won.

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.

No Escape from the Dollar as the Currency Standard

All commodities are priced internationally in dollars & the dollar is used for over 80% of cross-border trade settlements.The yuan, ruble, rupee & all other Asian & emerging-economy currencies involved may be able to trade between themselves without the dollar, but still remain on a dollar standard.

India's Silver Imports Near Record At A Quarter Of Global Mine Supply

India imported 2,882 tonnes (92.6 million ounces) of silver in the first six months of 2014, down slightly from the previous record set last year at 2,980 tonnes. According to the 2014 World Silver Survey, global silver production around 800 million ounces in 2013. Thus, India imported 23%, nearly a quarter of global mine supply.

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.

Rising Strength in the Rupee will take Gold off the Indian Investors’ Radar

Indian stock markets got off to a roaring start with the rupee rising to its strongest in 11 months against the dollar after the Modi led BJP swept India’s elections to a thumping victory. With so many reasons for the dollar to fall & the Indian rupee to gain and rise; Why would gold prices in rupee terms, rise further?

Will BJP's Win Boost Gold Prices In India?

Irrespective of India’s election outcome or BJP’s win and whatever happens to India’s gold policy then in the coming weeks and months, it’s highly unlikely to boost gold prices either way. The root cause of India’s huge gold demand meanwhile remains unaddressed.

Gold Regains Safe Haven Status From Emerging Markets

Gold has regained its reputation as a safe haven from turmoil in emerging markets & elsewhere early this year, particularly as tension over Ukraine & the Crimea region continues. Geopolitical risk is a theme that will drive gold prices this year, helping investors hedge against foreign exchange volatility.

What Is Happening With Gold In India?

Given sustained high inflation & an extremely difficult investment environment in India, Indians desperately need a hedge against inflation. Unfortunately, there are very limited options. Indians love gold & will do so for a foreseeable future. Moreover, gold has done quite well for Indian investors.

Who Are The Biggest Losers From The Emerging Market Crisis?

Markets won’t be calmed until there is clear evidence the current account deficits in EM nations improve. But how can these adjustments happen? Current accounts are a zero sum game, so future improvements in emerging market trade balances have to come at someone else’s expense.

One More Sign of Manipulation in the Gold Market

The evidence presented here suggests that the decline in the price of gold in mid-2013 and the subsequent raid of gold ETFs was engineered by Western Central Banks to help solve their physical gold supply problem. However, the resulting increase in demand exacerbated the problem.

Despite Several Hurdles, Will Indians Keep Buying Gold?

Gold has done well for Indians who are still interested in gold, and will keep buying also due to the high deficit and high inflation. But Indians are having trouble getting as much real gold as they want – Can the Indian government really continue to stop gold imports here?

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