india getting back into gold buying, page-2

Thanks for your post Adrian9737.

The data was provided by "the Indian Bullion Market Association (IBMA), the trade body representing Indian gold jewellers and importers."

This entire article about Indian gold imports is about purchasing gold for jewellery. Gold purchased for jewellery is just a side show now.

Are we to believe there was no investment demand for gold in India? I didn't see any mention of investment demand for gold, yet it is investment demand for gold that is now the key for this gold bull market.

Investment demand for gold dwarfs jewellery demand - for example look at the recent investment demand purchases by India.

This organisation appears to be similar to the World Gold Council in that it ignores investment demand for gold and concentrates on gold as being something nice to look at and nice to wear as jewellery.

Now who is this Indian Bullion Market Association that no doubt we are going to see and hear quoted on a regular basis?

"Mumbai, 30 May 2009

National Spot Exchange Limited announces launch of Indian Bullion Market Association (IBMA) in association with pan India Bullion Associations. Foundation for National level professional body launched today to make India the Price-Setter from Price-Taker in Bullion."

At http://www.commodities-now.com/news/metals-and-mining/112-launch-of-indian-bullion-market-association-ibma.html

Comment:
Have a think about what I quoted. Does this look like an organisation that wants higher gold prices if it wants to be a Price-Setter and NOT a Price-Taker?