India Central Bankers Add Substantial Amount of Gold

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Written by Mike Hammer

India has had more than it’s fair share of troubles this past year, from a slowing economy to the unexplained exit of their head economist. Some made international headlines, others were swamped by stories like the US-China trade war. Or the Kardashian’s latest tweet

One of the important stories glossed over was India’s central bankers adding a substantial pile of gold to their central reserves. Substantial as in 52.3 tonnes of gold for the year ending March 2019.  That’s enough to catch this observer’s attention.  This is the most gold India has added since 2010 when they revealed they’d bought 200 tonnes from the IMF.

There are lots of India-based reasons why they did this, along with a small handful of international reasons cited by the Reserve Bank of India. You can – and should – read about them in today’s featured article, which gives a very balanced account of India’s current situation and positioning.

Continue reading at LiveMint.com

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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