Ourlady thinks..."Indian election result could have a big impact...

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    Ourlady thinks...

    "Indian election result could have a big impact on sentiment."

    What is really going on?

    http://www.reuters.com/article/2014/04/22/india-gold-idUSL3N0N60WI20140422

    "The government may consider partial lifting of restrictions like relaxation of the 80/20 rule ... but they won't do anything in a hurry as it will be very harsh for the current account deficit," said Surendra Mehta, secretary general of India Bullion and Jewellers Association, which controls 70 percent of the imports by its members.

    So I wouldn't look for a surge in Indian buying to push the PoG out of its recent range.
 
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