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What if....India banned gold imports?

BochimanBochiman Posts: 25,746 ✭✭✭✭✭
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

Comments

  • derrybderryb Posts: 38,471 ✭✭✭✭✭

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

    When gold and silver move together, it signals the coming end of fiat money.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

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

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,896 ✭✭✭✭✭

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

    ``https://ebay.us/m/KxolR5

  • CaptHenwayCaptHenway Posts: 33,436 ✭✭✭✭✭

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

    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Author of "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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