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

Is renewed Indian demand driving gold prices higher?

Posted on 07 March 2014

Since last August, the Indian government placed a stranglehold on gold imports into the country by requiring that 20% of all gold imported be exported as jewellery. This forced the amount of gold imported to drop to 30% of former levels until October of last year.
Then the amount imported rose to 38 tonnes a month and has been at that level since then. The amount of gold that was expected to be imported for the year was north of 1,200 tonnes. It only achieved an imported total of 825 tonnes, around 400 tonnes less than expected………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 38144 posts on Opalesque Commodities Briefing.


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