“A number of things are now adding up to make investors more positive about gold,” reckons the World Gold Council’s (WGC) Marcus Grubb.
In India, the world’s second-biggest importer of gold, restrictions on gold imports look set to be relaxed by the new government. The tariffs and quotas brought in last year have backfired: they have created a boom in illegal gold smuggling and had scant impact on the budget deficit.
Global demand for jewellery climbed marginally in the first quarter, boosted by a 30% year-on-year increase in China, the top producer, consumer and importer of the [...]
Want to read this article now?
Already a MoneyWeek subscriber? Please log in below.
Not a subscriber? Sign-up now for a 4 week FREE trial to get instant access.