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What if....India banned gold imports?

BochimanBochiman Posts: 25,293 ✭✭✭✭✭
in Precious Metals

kitco.com/news/2016-11-23/Indian-Gold-Import-Ban-Fact-or-Fiction.html

This article is saying it's a possibility and also that it could see up to a $200 decline in gold in a day (then a potential reset).

If India did ban gold imports, and gold did drop like that, then what?
Buy?
Worry?
HUGE premiums as no one would want to sell for such a loss right away?
Unable to find physical gold (put away, bought out, etc)?

I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

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    derrybderryb Posts: 36,193 ✭✭✭✭✭

    it would become much more expensive, at least in India. Food for thought.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    Such a thing would barely ripple the gold market.... Cheers, RickO

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,835 ✭✭✭✭✭

    The women would look better wearing nothing, as opposed to wearing gold.

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    CaptHenwayCaptHenway Posts: 31,547 ✭✭✭✭✭

    They have banned gold imports in the past, and it never prevented gold from being imported into India.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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