India Gold Initiatives To Have Little Short-Term Impact On Imports

Published: Nov 12, 2015 09:23

Save

According to Metals Focus, teh new gold initiatives announced by the Indian government will have little impact on imports of the metal.

By Paul Ploumis (ScrapMonster Author)

November 11, 2015 02:51:07 AM

(Kitco News) -India’s new gold initiatives are unlikely to have an immediate impact on imports of the metal, says the consultancy Metals Focus. The government unveiled a Gold Monetization Scheme and Gold Sovereign Bond Scheme last week.

For some time, the government has been trying to limit gold imports due to the impact on the current-account balance.

“Overall, we believe that in the short term at least, these initiatives are unlikely to have a material impact on Indian gold bullion imports,” Metals Focus says.

“The key point here is that it will take time for the government and other stakeholders to create sufficient awareness across the market. Once this is achieved, investor participation should improve, although this is likely to favor urban, rather than rural, consumers.”

Courtesy: Kitco News

gold imports

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Shaanxi-Henan UHV DC Project, Final in "Three Exchanges Nine Direct," to Be Completed by 2028

On March 31, the National Grid announced that the Shaanxi-Henan ± 800 kV UHV DC project, the final project of the "three exchanges and nine direct" projects in the National "14th Five-Year" plan, with a total investment of 19 billion yuan.It starts in Yulin, Shaanxi, and ends in Kaifeng, Henan, passing through Shaanxi, Shanxi, and Henan provinces. The total length of the line is 728 kilometers, the transmission capacity is 8 million kilowatts, and it is planned to be completed and put into operation in 2028.

1 hour ago

National Grid's Panxi UHV AC Project, a $23.2B Investment, to Span 994km and Complete by 2028

On March 31, the National Grid announced that the Panxi UHV AC project, the first UHV AC project to start construction during the "14th Five-Year Plan" of the National Grid, has a total investment of about 23.2 billion yuan. The project will pass through 12 counties (districts) in Liangshan, Yibin, and Leshan, build two 1000 kV substations in Panxi and Chuannan, and expand Tianfu South Station. The total length of the line is 994 kilometers, and it is expected to be completed and put into operation in 2028.

1 hour ago

20 hours ago

"Fluctuating Copper Prices and Tight Supply Squeeze Secondary Copper Industry, Pressuring Upstream and Downstream"

This week, against the backdrop of fluctuating upward copper prices, the secondary copper industry chain showed a complex situation in which extremely tight upstream raw material supply coexisted with persistent negative margins for downstream finished products. In the secondary copper rod market, SMM data showed that the operating rate fell further to 5.45% this week, down 0.38 percentage points MoM and 25.43 percentage points YoY

20 hours ago