Physical

India' s wedding season jewelry demand falls 20%

Paul Ploumis
January 30, 2014
The gold demand dropped drastically during wedding season in India, falling by more than 20% over the previous year. The demand for gold remained subdued amidst high prices of the metal in domestic market.

Smugglers sneaking up to 3,000 kg gold to India in a month

Paul Ploumis
January 28, 2014
While speaking at the occasion of the International Customs Day on Jan. 26, Indian Finance Minister, Mr. P. Chidambaram admitted that in spite of the stringent import restrictions, gold smuggling reached up to 3,000 kg in certain months.

India to reconsider gold import restrictions by March end

Paul Ploumis
January 27, 2014
The Indian finance ministry announced yesterday that they will be reconsidering the import restrictions imposed on gold by March end. The Finance Minister of India, Mr. P. Chidambaram on Monday informed that the Govt. will be taking actions regarding the current gold import restrictions soon.

Learn from German central bank and "demand physical gold"

Mark O'Byrne
January 27, 2014
“There’s surely no chance that the Fed’s little delivery difficulty has anything to do with the cat’s-cradle of pledges based on the gold in its vaults? As has been remarked here before, forecasting the price is for mugs and bugs.

India’s gold exports fall by 30%

Jan Skoyles
January 17, 2014
Physical buying in India is also set to remain steady as citizens look to buy gold ahead of the wedding season. Exports of gold jewellery from the country fell by 30% to $443.19 million, in December from the previous year.

Foreign banks granted gold import licenses for the first time in China

Paul Ploumis
January 15, 2014
For the first time in history, the Chinese authorities have granted gold import licenses to two foreign banks operating in the country. ANZ and HSBC are the two nominated banks to receive gold import permits. The move is aimed at boosting gold supply into the country.

Coin shortage and rationing: A Possible threat to gold buyers!

Paul Ploumis
January 14, 2014
Caught by a number of factors, the global minting industry is experiencing coin shortage crisis together with the possible threat of rationing. The Central Bank of India in 2013 had imposed various restrictions and norms over the gold import and trading which had considerably hindered gold purchases in the country.

Get your gold coins while you can, U.S. mint sees strong sales

Jan Skoyles
January 14, 2014
Coin demand remains strong, the U.S. Mint yesterday reported coin sales of 63,000 ounces, 9,000 more than sold in December 2013. Similar demand has been seen here at the Royal Mint where ‘exceptional demand’ has run stocks of the 2014 Sovereign gold coins dry.

Silver coin premiums set to climb on reduced supply

Mark O'Byrne
January 14, 2014
The premium charged by wholesale dealers for American Eagle coins from the U.S. Mint may rise from 14%. The mint has said that weekly allocations will be reduced despite very strong demand so far this month.

Retired Indian customs officials to train present staff on tackling gold smuggling

Paul Ploumis
January 13, 2014
The Air Intelligence Unit (AIU) of Indian Customs and the Directorate of Revenue Intelligence (DRI) has sought help from retired and experienced Customs officers to curb increasing incidents of gold smuggling acts.