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Commodities Briefing - Categorized | Bullion/Gold, Investment more

Five Reasons Why Indian Investors Are Selling Gold

Posted on 05 June 2014

Spot gold prices in India are hovering around Rs. 27,000 per 10 gm, the lowest in over four months. The catalyst for the fall has been the recent easing of some import restrictions from the Reserve Bank of India. Also, traders anticipate a further fall in gold prices if the Narendra Modi government decides to rewind some of the import restrictions imposed by the earlier government.
Easing of Import Restrictions: The Reserve Bank of India last month removed some curbs on imports of gold. This led to a fall of Rs. 800 in gold prices on May 22, its biggest one-day fall this year. The RBI expanded the number of private agencies that can import the precious metal while also allowing banks to provide gold loans to the sector………………………………………..Full Article: Source


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VRS - who has written 37214 posts on Opalesque Commodities Briefing.


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