Gold News: New Proposal Could Life India’s Demand

gold nuggets, gold price
Written by Mike Hammer

A new set of proposals could lift gold demand in India. Developed as a “comprehensive” set of new guidelines, the proposals would allow consumers to use gold bullion in direct exchanges with banks – just like currency.  Spot exchange pricing would become possible, allowing consumers and banks to have an exact value for gold at the time of the exchange.

This means gold would take on a legal tender role in the Indian economy, in addition to being a store of value and a base metal for jewelry and electronics. This is not expected to have much effect on demand immediately, but over time one could expect use of gold to rise, especially if inflation rose. You can read more about these interesting proposals in today’s featured article.

Continue reading at The Hindu Business Line

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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