recommendation, page-141

Most likely Wednesday for the qtrly.

This might at least limit any downside for POG in the short term and might also help push prices higher short term with the festival and potentially significantly higher some time over the next few months with likely easing of restrictions (possibly earlier in anticipation).

http://www.kitco.com/news/2014-04-25/Analysts-Approaching-Indian-Festival-May-Help-Put-Floor-Under-Gold-Market.html
(Part of story only below)
Gold demand is picking up in India ahead of a key festival and should help curb any further weakness in international prices, said analysts with several consultancies. Nevertheless, observers say the festival itself likely won’t be enough to spark a sharp rally considering the continuing restrictions on gold imports into India and recently lukewarm Chinese demand. However, analysts do look for an eventual relaxation of the onerous Indian import rules, which should then help consumption, although they do not see this occurring until sometime after spring elections.
The Akshaya Tritiya festival occurs in India on May 2. Additionally, May is considered one of the two “wedding seasons” in the country.
“That is typically a strong buying period in India,” said Rohit Savant, senior commodity analyst with CPM Group. This is significant for the market since India historically has been one of the world’s largest consumers and until last year was the No. 1 gold buyer in the world, before being overtaken by China.
“What we’re likely to see is limited downside while the buying is going on for that festival,” Savant said.
However, he and other said, the festival itself probably is not enough to send gold sharply higher either.
“In past years, it likely would have had a significant impact on the world price,” said Jeffrey Nichols, managing director of American Precious Metals Advisors. “But imports are significantly curtailed by the high taxes and the 80-20 rule, which still prevails.”
Authorities raised duties on gold imports several times last year; they currently stand at 10%. Other measures were passed as well, including an 80-20 rule that stipulates that a minimum of 20% of all gold imported must be exported before further imports can be made.
Like others, Nichols looks for eventual relaxation of what he termed “anti-gold” policies in India, which should then boost demand.