Why is the Demand for Gold in India Falling?

Written by Mike Hammer

Reports from India indicate gold imports dropped 21.43 billion USD in the April-October months this year (2019) compared to 2018.  That’s an 18.4% drop which is significant in anyone’s book.

Regular followers of The Gold Enthusiast know he watches Indian gold figures closely, as India is often the world’s largest importer of raw gold.  Indian consumers are traditionally among the world’s highest purchasers of new gold jewelery and small gold bars, thanks to gold-gifting customs related to their marriage and gifting seasons.

But a few years ago the Indian government decided they wanted a piece of the action, and imposed a…

Continue reading at ETFDailyNews.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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