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Gold Sales THROUGH the ROOF over 570%!

Wednesday, December 31, 2014 9:36

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The reason it is important to know countries that are buying extraordinary amounts of gold is that it shows the demand and the decreasing supply. Economic rule numero uno is “low supply and high deman=higher prices”.

Of course we know that right now TPTB are manipulating gold down. But when their supply runs out, they won’t be able to deliver large purchases of gold and then the SHTF.

On a more erudite note, Gold Core states, “India’s gold imports were over a staggering 150 tonnes in November and have seen a “phenomenal” rise in India according to India’s Trade Secretary, Rajeev Kher.

The import restrictions on gold that were imposed on Indians in August of 2013 were lifted at the end of last month. Despite the fact that the restrictions were still in place gold importation in November surged an incredible 571% relative to the same month last year at over 151.58 tonnes.

This was an increase of 38 percent from 109.55 tonnes a month earlier, trade ministry data showed on Tuesday.

The Indian government had recognized the socially destructive impact of the 80:20 scheme – which obliged importers to export 20% of it’s gold imports before bringing in another shipment – by pushing business into the hands of smugglers and thereby empowering criminality while losing out on the 10% duty currently charged on all gold imports.

As a country that imports between 25% and 33% of the global gold supply – India will be well placed when currency wars deepen and the inevitable world-wide monetary reset occurs.

It had been assumed that, because demand was being met by these “informal” supplies, the relaxing of the 80:20 policy would not have a dramatic impact on gold imports into India. That remains to be seen. Smuggling networks are now well established and arguably could provide cheaper gold than government-sanctioned channels.

Read the rest of the story here…

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Watch the Shocking Amount of Money Each Indian Family Spends on Gold:

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