WGC

India’s past and future are colliding in Anand Ghugre’s family jewelry shop in Mumbai . . . .

Gold bar and investment coin demand is up 11% year-on-year . . . .

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 . . . .

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 . . . .

After several years of rather unspectacular market activity, gold came roaring back in 2016. The year saw investment demand for the precious metal rise by 70 percent . . . .

In India, the affinity for gold is deeply rooted in centuries-old tradition and its popularity as an investment. Gold is considered as auspicious, a harbinger of prosperity and a perfect adornment for any celebratory occasion . . . .

In 2016, investors around the world returned in large numbers to the gold market, as a combination of macroeconomic drivers and pent up demand kept interest in gold high . . . .

Analysts cited news reports that the Russian central bank bought around 48 tons of gold in October, the biggest monthly gold purchase of this millennium . . . .

By the end of 2016, 1.6 billion people will likely have a new gold investment standard for the first time in modern history . . . .

Yesterday, the gold price broke above US $1,300/oz for the first time since early October, as the surprise announcement last Friday October 28th by the FBI relating to Clinton’s email probe, injected a new wave of uncertainty into the presidential election . . . .