gold imports

According to GJEPC data, the gold bar imports by the country jumped higher by nearly 40% in August this year . . . .

One of the big stories missing in the mainstream media this year is the fact that gold is up nearly 10% while the bulk of all other commodities are down – often by 10% or more . . . .

Not only are the Turks buying more gold at a substantially more aggressive pace than the Russians adding 950,000 ounces of the yellow metal in just three months, the purchases are also much more meaningful when you look at the bigger picture . . . .

During the 2008 financial crisis, gold was used in international settlements as a zero-risk asset after many decades of being sidelined in the monetary system. Since then the world’s central banks have been substantially increasing their official gold reserves . . . .

India’s gold traders stocked up anticipating a higher Goods and Services Tax (GST), pushing up imports of the precious metal & widening the country’s trade deficit to 30-month high in May . . . .

This keeps Russia in sixth place among global national holders of gold after China in fifth, but closing the gap given China seems to have ceased to report monthly gold reserve increases since last October . . . .

India, which vies with China as the world’s top consumer of bullion, is working on new policies to improve transparency and help expand its $19 billion gold jewelry industry, according to people with knowledge of the matter . . . .

China, the world’s biggest gold market, may boost imports through Hong Kong by about half this year as local investors seek to protect their wealth from currency risks, a slowing property market and volatile stocks, according to the Chinese Gold & Silver Exchange Society . . . .

Indian gold imports during April has increased drastically to 75 tons, which is about twice the increase when compared to year ago period . . . .

Sentiment has turned up in the gold market the last few weeks. And new data from the world’s top consuming center — India — shows there may indeed be cause for optimism amongst bullion buyers . . . .