Julian Phillips looks at the fundamental implications of India’s recent import curbs, US sales of ETFs and how these might change going forward.
Author: Julian Phillips
Posted: Friday , 13 Dec 2013
JOHANNESBURG (GOLD FORECASTER) -
The events in India have taken a most interesting turn for gold. The one year-old political party that is anti-corruption is shaking the political foundations there. The ruling National Congress Party is having to change its stance in a hurry and is already losing influence in the capital, Delhi. With elections in May, one of the changes we expect to see will be the Finance Minister relaxing (what effectively is) the blockade on the importing of gold, which is hammering the gold jewelry industry as well as denying Indians access to market gold.