Gold Silver Reports ~ India’s place in the Gold market is special if you check some facts about gold consumption. The country’s appetite for the yellow metal is something that should be written in golden letters in the annals of the history of gold. The country’s greed for gold is validated by the latest import bill.
India’s imports of the precious metal surged to $3.80 billion in December from $1.36 billion in the yearago period. The imports of gold more than doubled as suggested by the import bill. The increase in imports might be due to the surge in demand observed in December prompted by the gold price slump in 2015.
Gold Silver Reports ~ A gauge of expected swings in the Indian rupee rose to the highest level since November amid outflows from Indian stocks and bonds.
Gold Silver Reports ~ Crude Oil is so plentiful and cheap in the U.S. that at least one buyer says it would pay almost nothing to take a certain type of low-quality crude.
Gold Silver Reports ~ Indian central bank Governor Raghuram Rajan oversaw the biggest jump in currency reserves among major developing nations and he’s not afraid to use them to help the rupee.
Gold Silver Reports ~ Mining giants including BHP Billiton Ltd. and Rio Tinto Group tumbled as commodities producers slumped along with oil on Monday, which sank after Iran secured the lifting of sanctions that have capped crude sales.
Gold Silver Reports ~ Stocks across the Middle East tumbled as the easing of sanctions against Iran raised the prospect of a surge in oil supplies to a market already reeling from the lowest prices in more than a decade. Shares in Tehran gained.