Commodity Trade Mantra

Posts Tagged ‘WGC’

China’s Love for Gold: You Ain’t Seen Nothing Yet

China & India lead the world in gold demand. This Chinese New Year is no exception. Official “Year of the Ram” gold coins sold out days ago & since the beginning of Jan, withdrawals from Shanghai Gold Exchange grew to over 315 tonnes, exceeding the 300 tonnes of newly-mined gold around the globe in the same period.

India Eases Bank Gold Imports: Gold Can Again Be Used As Loan Collateral

Facilitated by the drop in oil prices – a key import for India, the RBI has finally lifted its ban on imports of gold coins and medallions by banks and trading houses. The RBI in a notification also said banks are permitted to import gold on consignment basis & are free to grant gold metal loans.

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.

China Consumed, Mined And Imported The Most Gold Bullion Ever In 2013

China, the world’s top producer of gold, has been officially crowned the world’s largest gold market for the first time. China overtook India as world’s largest consumer of gold in 2013, with consumer demand soaring 32% to 1,066 tonnes for 2013, topping India’s previous 2010 record of 1,007 tonnes.

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