Collapse of the rupee..India imposing import controls on GOLD

....the gold market, we need only look to India where the ongoing collapse of the rupee has pushed gold demand into the upper limits. India’s monetary authorities have reacted to the situation by imposing import controls on the metal in an attempt to keep the populace from fleeing the rupee for gold. Some commentators have gone so far as to suggest the possibility of a gold confiscation in India. Granted India’s affinity to gold is like no other country’s save China, nevertheless it provides clues as to how gold fundamentals might be affected if the contagion spreads..

Gold could see new mega-highs according to two prominent international bank economists
[link to www.24hgold.com]

Last Edited by 2/3s of 2/3s on 08/31/2013 10:19 AM