Wednesday, September 24, 2014

50 Tonnes In Ten Days: Gold Smuggling Overwhelms Government Restrictions In India

"So much for the mainstream media reports of a waning interest in gold in India and elsewhere.

USAToday did a rerun of 'Why Warren Buffett Hates Gold' the other day.  

No one outside the dollarsphere is listening anymore, or cares.   

Things are certainly warming up.  The mispricing of risk is formidable.

The entire story can be read here.

Hindustan Times
50 tonne gold smuggled into India in 10 days, 30% reached Mumbai
By Manish Pachouly
Mumbai, September 23, 2014

About 50 tonnes of gold has been smuggled into the country in the past 10 days, and subsequently taken into the market to cater to a surge in demand for the precious metal in the festive season. There is a heavy demand for gold during Dussehra, for which booking and supply will start from Thursday, when shradh ends and Navratri starts.

Market sources said that 30% of the smuggled gold has been supplied in Mumbai to unscrupulous jewelers, while the rest was distributed to different parts of the country..."

at  http://jessescrossroadscafe.blogspot.com.tr/2014/09/50-tonnes-in-ten-days-gold-smuggling.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+JessesCafeAmericain+(Jesse%27s+Caf%C3%A9+Am%C3%A9ricain)

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