Saudi Arabia Capital Markets Authority is seeking feedback from government ministries on the proposed opening of its bourse to direct foreign investment. The draft rules will go for a wider consultation with banks, market participants, and the public.
Gold demand in China, India and the Middle East surged in the 12 months to September while European sales contracted, underscoring a shift in the global bullion market from west to east, according to the World Gold Council.
What's going on in India is nothing new. We've seen it over and over again throughout struggling economies. Gold has always been and will always be the safe haven of choice when people lack confidence in their government.
India, the world’s largest gold buyer, increased a tax on bullion imports to curb a record current-account deficit at a time when the World Gold Council predicts record quarterly demand for the metal in the country.