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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Where are the gold prices headed?

Posted on 24 July 2013

Though the long-term trajectory will be defined by how the US Federal Reserve’s stimulus withdrawal plays out, analysts rule out a sharp movement on either side in the near-term. The Indian consumer’s insatiable appetite for gold and the country’s burgeoning current account deficit (CAD) prompted the Reserve Bank of India (RBI) to further tighten gold import norms late Monday evening.
According to the latest norms, an entity importing 100 kg of gold to be kept in a bonded warehouse, for example, would have to release 20 kg to exporters (gold/gold jewellery), against an undertaking to Customs authorities. The new policy would be applicable to gold imports in any form/purity, including gold coins, reports suggest………………………………………..Full Article: Source


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