India bans imports of gold coins to cool demand.

s4ny

Just saw the headline on Dow Jones News. The story states that the ban is for an indefinite
period. Effective immediately.

ricko

Wow....sounds kind of extreme..... will have to read about it to understand why it is necessary... Cheers, RickO

s4ny

I think the Rupee is losing value vs. other currencies and the Indian government is trying to
push against the balance of payments problems created by imports of
gold coins.

epcjimi1

India turns screw again on gold imports - Reuters

CaptHenway

Should increase sales in the U.S. and other countries to citizens of India who intend to smuggle it back into the country. Decades ago when India had real tight import restrictions we used to sell it to Indians on their way home.

rawteam1

Whatever they ban, demand increases huge...

CaptHenway

<< <i>Whatever they ban, demand increases huge... >>



This is true.

CaptHenway

Rupee falls to record low:

linky

Despite or beccause of the government efforts to limit gold purchases by Indian citizens?

jmski52

They'll blame a falling currency on gold every time. Or, I should say they'll try to blame a falling currency on gold every time.

roadrunner

Just got a bulletin from a blog I follow that India has clarified the import restrictions that have been in effect since July 22nd.
Things should get back to normal within the week as the wedding season comes into play.

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