gold forcast of below 800, page-55

>Indian imports dropped dramatically in Q1, Q2 figures will most likely show further falls. Is it possible they could someday become net sellers of gold? Perhaps unlikely but even at current reduced import levels they are leaving a lot of physical production for the rest of the world to absorb. For example June's drop in imports of 35 tonnes, if annualized (simplistically) amounts to 420 tonnes or around 15% of world production.

Peter Pumpkinhead,

The slack is more than being taken up by China.

China's imports are up 756 Tonne on last years imports.

Read below :-

Gold futures rose for the first time in three sessions on signs of increasing demand in China.

In May, imports by China from Hong Kong jumped sixfold to 75,635.7 kilograms (75.6 metric tons) from a year earlier, Hong Kong government data showed. The nation “remains the most important player on the global gold market,” Commerzbank AG said in a report. The US dollar fell from a five-week high against a basket of currencies, boosting the appeal of the metal as an alternative investment.


Read more: http://www.smh.com.au/business/markets/gold-futures-rise-on-increasing-china-demand-20120710-21s9y.html#ixzz20BZWbcKL




http://www.smh.com.au/business/markets/gold-futures-rise-on-increasing-china-demand-20120710-21s9y.html