investmentresearchdynamics.com / Dave Kranzler / March 16, 2017
Mehul Choksi, chairman of jewellery store chain Gitanjali Gems Ltd., is quoted as saying: “We expect some heavy buying in April as a large number of weddings are expected to take place. – LINK
Legal Indian gold imports jumped up to 96.4 tonnes in February vs. February 2016. These numbers come from the finance ministry and not the World Gold Council or bullion banks. This reinforces the observations by many that the BIS-directed attempt to curtail Indian gold demand by removing cash from the financial system has failed. Gresham’s Law in action. This number also does not include smuggled gold which, based on the increase in airport arrests so far in 2017, has ramped up considerably.