• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 9 hours How Much Oil Does Aramco Have?
  • 14 hours Spy&State: Huawei Founder Says Firm Does Not Spy For China
  • 35 mins Venezuela continues to sink in misery
  • 3 hours BofA Sees Oil at $35-70
  • 39 mins How Is Greenland Dealing With Climate Change?
  • 27 mins "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 15 hours Oil Slide Worries Traders. *relax* This Should Get Sorted by Year End.
  • 4 hours Socialists want to exorcise the O&G demon by 2030
  • 5 hours China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 19 hours China's Exports Shrink Most In Two Years, Raising Risks To Global Economy
  • 1 day protests in Canada over pipeline
  • 22 hours Bolsonaro Wins in Brazil
  • 20 mins WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 56 mins Regular Gas dropped to $2.21 per gallon today
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Some Bullish News On Gold From This Key Market

More new information on the world's most important gold market right now: India. Showing that demand continues to stay strong, providing solid support to global prices.

Local press reported this week that India's April gold imports rose substantially. With "trade sources" estimating total imports at 90 tonnes for the month -- up 55% from the 58 tonnes that Indian buyers brought in during April 2014. Related: Saudi Arabia Continues To Turn Screws On U.S. Shale

That follows on a strong import performance in March. Which saw 121.8 tonnes of gold imported here.

All of which suggests that recent measures to relax gold import rules in India are having an effect. Indeed, sources quoted by the press said that removal of restrictions such as the so-called "80:20 rule" on imports has helped lift buying over recent months.

The April figures were also boosted by marriage-season buying in the country. Related: Here Is Why Predictions For Lower Oil Prices Are Wrong

April's 90 tonnes of imports would put India on pace to exceed gold import levels it saw last year. With shipments into the country during 2014 having totaled just 900 tonnes.

All of which is great news for the gold price. With this steady buying having likely played a role in keeping the global gold price stable around $1,200 per ounce recently. Related: Alberta Election Result Changes Little For Oil Industry

Of course, there are risks to the gold market here. Most notably recent plans by India's government to cut imports by offering deposit schemes for private citizens' gold.

But for the time being, India is back as a dominant player in this space. Keep a close eye on all developments around this critical import market for bullion.

Here's to an Indian summer,

Dave Forest

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News