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What do Indian gold market changes mean for U.S. price?

Posted on 08 August 2014

We are soon entering a propitious period for gold in the annual calendar. Historically, prices have moved higher as gold traders and buyers returned from their summer holidays. In reality, it has been the approaching Indian holiday, wedding, and agricultural harvest seasons that have boosted gold demand and supported higher prices in world markets as summer draws to a close.
Until last year, India was the largest consumer of gold in the world market, but thanks to the imposition of gold-import barriers by the Indian authorities and the surge in Chinese demand, China rose to the top spot and India trailed behind. Nevertheless, India remains a major player holding much sway over the world price………………………………………..Full Article: Source


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VRS - who has written 38515 posts on Opalesque Commodities Briefing.


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