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Papli
Member since May 2012
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Will India Stop Buying Gold? - Jeff Clark - Casey Research

Jeff thanks. But you have both missed out covering the impact of custom duty raise in Indian Budget this year from 2 to 4 %. All bullion traders have been experiencing the negative impact of this raise on their sales and procurements.Last week there was a nation wide strike and closure of bullion shops. I am sure revenue losses would run into a few crores. If the custom duty raise is not rolled back, it will nagatively impact sales as the burden will be passed on to the customer who is apprehensive whether the price of gold will rise or fall significantly in the near future. I dare say there is a lull in the gold market currently with a negative bias for the future.
Regarding silver, yes it has caught the attention of a miniscule percentage who are internet savvy. For majority silver as an investment vis a vis gold is as yet unthinkable. Less my own self I have no friends or relatives who are investing in silver in spite of its recent run up. They are far too uncertain of its future and they may not be wrong.

Commented 4399 days ago

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Beginning of the headline :We've read mixed reports about how lofty gold and silver prices are affecting demand in India. One month we're told demand is up, and the next it's supposedly down. I'm not suggesting that official reports are inaccurate, but it is admittedly confusing and doesn't help us understand the real trend in the country... Read More

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