Gold's (GLD -1.1%) back under $1,400 as the Reserve Bank of India clamps down further on...

Gold's (GLD -1.1%) back under $1,400 as the Reserve Bank of India clamps down further on speculative purchases by restricting import of the metal under a deferred payment plan. The restriction had previously only been applied to banks. The country likes gold, but produces very little, making it an important importer.

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Comments (8)
    , contributor
    Comments (53) | Send Message
    Is it just me, or does this look like a form of manipulation?
    4 Jun 2013, 01:37 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    It will make the demand go up even faster...
    4 Jun 2013, 01:50 PM Reply Like
  • rblava@SA
    , contributor
    Comments (30) | Send Message
    Pent up demand will build further.... Look long, down the path.
    4 Jun 2013, 03:51 PM Reply Like
  • Ohrama
    , contributor
    Comments (569) | Send Message
    It is not manipulation (of the price of gold) per se by Indian govt. It is more of a current account deficit and the country is bleeding with the filthy rich wanting only the imported goods (iIdiots). Yes, we can expect a good demand for the PM since now they might go back to the pre 2000 ways (smuggle and smuggle with the blessing or active participation of the thugs cum politicians). Look at the way the currency is falling.
    4 Jun 2013, 03:58 PM Reply Like
  • Michael Brinton
    , contributor
    Comments (2) | Send Message
    Gold Silver will eventually increase in value. Know that !!!


    Instinct. The primordial intelligence,trust it.
    Detach the mind from any influence,that disturbs it's harmony.
    In that state,observe the buffoonery,the bamboozle,the secret
    agenda of cartels, clubs, bureaucrats in a financially controlled
    environment, that is trillions of dollars in debt.
    4 Jun 2013, 04:05 PM Reply Like
  • bertrandrighi2
    , contributor
    Comments (35) | Send Message
    Did PROHIBITION stopped alcool consumption ? It criminalized it, pushed to the rise of thousands of gangsters living hi life on this product, and quality dropped close to zero... Does the WAR on Drugs against South America at the costs of TRILLIONS of $, produce any positive result ?
    I bet, what the Indian Govt decided recently should PUSH UP the imports, legal or not, as it will be more perceived Gold is getting more and more scarce...And certainly people are already ready to pay a hefty PREMIUM to put their hands on it...
    Chinese buyers ready to pay 10 to 15% premium , NOW. Bank of China ordered for 1000 tons. On waiting list, has been delivered 100 tons only...
    4 Jun 2013, 10:55 PM Reply Like
  • filipo
    , contributor
    Comments (4680) | Send Message
    High Gold premiums in the East are the mathematical result of the disequilibrium between the East craving for gold and the West reluctantly willing to depart of it.
    In Europe, premiums also have risen, although in a more subtle way: formerly you only paid a premiums when buying gold, now they also charge you a selling premium.
    The buying premium has tayed the same, so as to give you the impression that nothing changed, but they added a selling premium.
    This is completely insane: in the end nobody will sell his gold anymore.
    5 Jun 2013, 01:48 AM Reply Like
  • rblava@SA
    , contributor
    Comments (30) | Send Message
    Artificially restricting demand of ANY desired good, from physical to theoretical will Exponentially increase demand. Walk into any gun store now in the US and ask if they have any 9 mm ammmo... But no Real restriction had been put in place... As an everyday example. Gold will be the same (is).
    9 Jun 2013, 12:38 PM Reply Like
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