India : The Gold Clampdown On Imports continues

India Big Gold Clampdown: Fresh Curbs On Imports . The gold clampdown continues with the RBI again tightening norms for gold imports, which touched 6 lakh kilograms this year. It now needs 100% upfront payment for all gold imports and has banned import of gold coins. Bloomberg TV India speaks to Radhika Rao, Group Research at DBS Bank, and Jonathan Barratt, MD of Commodity Broking Services, about the possible impact of these curbs and where gold is headed.

Bullion Shortage in India

Gold imports by India, the world’s biggest user last year, may plunge after the central bank linked inbound shipments to exports to cut a record current-account deficit and stem a decline in the currency.

Overseas purchases may tumble 63 percent to 175 metric tons in the six months through December from a year earlier, said Bachhraj Bamalwa, a director at the All India Gems & Jewellery Trade Federation. The Reserve Bank of India announced new rules late yesterday, making it mandatory for importers to set aside 20 percent for re-exports as jewelry.
The curbs may cause a shortage of bullion in the domestic market as the country’s average annual exports of gold jewelry are about 70 tons, Bamalwa said. Consumption in India, which imports almost all the bullion it uses, was 864.2 tons last year, according to data from the World Gold Council.

http://www.bloomberg.com/news/2013-07-23/gold-imports-by-india-may-slump-as-purchases-linked-to-exports.html


MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

China and India demand for gold and silver soaring

China and India are the largest silver marketplaces globally.Demand for gold from India , the world's largest buyer of the precious metal is projected to exceed 1,200 metric tons by 2020, according to the World Gold Council .In 2009, China bought more gold than India, making it the world's top consumer. China pipped South Africa in 2007 as the world's largest gold producer .Chinese demand for silver has quadrupled in 2010 .In 2010, China imported an unprecedented 14 percent of global silver as the demand for silver has been growing in the country. Till last year, China has been historically been a net exporter of silver. China is the largest gold producer but requires so much of the precious metal (in addition to what it already mines) that it imported more than 209 tonnes during the first 10 months of 2010.Since 2003, Beijing has been buying most of the gold excavated and refined locally.Today, China has more than 1,000 tonnes in its official vaults, up 75% in six years. Its gold reserves are now the fifth-largest among national central banks after the US, Germany, France and Italy.Most of the 1.3 billion people in China only began to acquire and own gold in 2003 as gold ownership was banned from 1945 to 2003. The gold market was liberalized in 2003 .The World Gold Council stated that Indian households are presently in possession of more than 18,000 tons of gold, which represents the world's largest stockpile.
Eric Sprott, of Sprott Asset Management, reported having difficulty locating enough silver bullion for his new silver fund said : "Frankly, we are concerned about the illiquidity in the physical silver market. We believe the delays involved in the delivery of physical silver to the Trust highlight the disconnect that exists between the paper and physical markets for silver."
Today the Industrial Silver Demand at 18-year High
The Chinese government is actively encouraging their people to buy physical gold and silver instead of putting their money into real estate.paper silver is not silver, its fiat silver. Properly secured physical silver is real money. Whether its the 90% coins, sterling silverware, or bullion, its all good. silver is becoming rarer than gold, people just don't know it. With its industrial use as a consumed precious metal, it has the potential to surpass gold in value
Gold is not consumed in industry at the same rate silver is because:
1) Silver is better at conducting electricity

2) Silver has a better thermal transfer rate than gold

3) Silver is a better reflector of light than gold.

4) Silver is a better catalyst than gold

Has nothing to do with high price, Gold is a lousy industrial metal. If gold cost less than silver, Silver would still be used in much greater numbers than gold.
. Silver can usually replace gold, gold can not substitute for silver, or it can but causes the product to be inferior.

India opens largest diamond exchange

India has opened what has been called the world's largest diamond trading centre this week in Mumbai.

With the new state-of-the-art infrastructure, the country hopes to compete with other major exchange hubs like Antwerp and Tel Aviv.

Prerna Suri reports on how one of the world's leading diamond manufacturing centres is vying to take its place in the industry to a new level.

India may buy remaining 200 tonnes of Gold

Gold Rises to record on dollar drop, report India may buy more

Gold climbed to a record in London and New York on a further drop by the dollar and on a report that India may buy the remaining IMF 201.3 tons of gold


Articles :
Link 1 : http://www.thestreet.com/story/10633099/1/india-drives-gold-higher.html?cm_ven=GOOGLEN
Link 2 : http://www.mydigitalfc.com/commodities/gold-rises-record-dollar-drop-report-india-may-buy-more-447


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india gold central banks gold bullion gold coins economic collapse financial crisis peter schiff gold rush

how long can the stock market be kept afloat by the FED?

inside information on the health of the stock market by Alex Jones while talking to Ted Anderson about CIT bankruptcy and the price of gold as India buys 200 tonnes of IMF gold
recorded on November 3rd 2009

Tags:
cit bankruptcy GOLD price india china stock market crash goldman sachs Max Keiser gerald celente bob chapman william black silver gold precious metals bullion dollar collapse economy FED federal reserve david morgan jim puplava peter schiff marc faber obama bernanke greenspan geithner recession depression inflation hyperinflation cramer don harold bear stearns JP Morgan India buys 200 tonnes of IMF warren buffett

India Will still Buy Gold despite the high price

Rozanna Wozniak, Investment Research Manager at the World Gold Council, breaks down India gold demand during this historically strong buying season.

High Gold Prices Dampen India Festive Season

Surging gold prices are set to dampen the festive season for the worlds biggest consumer market, India.

For centuries gold has held a timeless allure for Indian women, who like to showcase their best jewels on social occasions like weddings and festivals.
With mounting turmoil in the global financial system, Indians are sticking to their traditional love for gold as a safe haven investment. The commodity posted its biggest weekly gain in a decade last week, climbing by an impressive $1012 an ounce.
The passion of Indian consumers for the yellow metal has put India in the league of top importers of the gold for quite some time. But the soaring gold prices have restricted Indian people from buying the precious metal. Infact the recent trend shows that the ongoing financial meltdown has pushed Indian consumers more towards selling their gold holdings.



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