| Citing the expansionary monetary policy being followed by most Central Banks, Japan’s policy becoming significantly more so following recent announcements, and the Mario Draghi statement yesterday which emphasised the downside risks to the Eurozone economy and implied further extension of the ECB easing programme, Germany’s Commerzbank analysts see gold as being in strong demand in the short to medium term.
The analysts note also that, contrary to some reports, India appears to be seeing high gold demand levels, noting a statement from the former chairman of the All India Gems and Jewellery Trade Federation that Indian gold imports in the March quarter were running at around, or higher than last year’s 228 tonnes and anticipates imports increasing some 30% year on year in the current quarter as wedding season demand kicks in...............................................Full Article: Source
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