Some action, page-29

Looks like the threat of a temporary ban on Indian gold imports was the real reason for gold price dropping and not the Trump election result. Now that that news is hitting the mainstream we might see the big boys start accumulating again? The Indian govt managed to dent imports with taxes over the last year or so and imports were down significantly this year but POG managed to rise 30% despite that. Now at some point this news will be factored in especially if the temporary import ban doesn't eventuate. The govt managed to ban large bills but that shouldn't damage any legal industry too much. A 3 month ban on gold imports would obviously be a different story and would put a lot of people out of work in India where gold/jewellery is a big industry. The ban on large notes was without warning. The threat of a gold import ban is being signaled suggesting this may be just a warning and won't eventuate. The reason behind it is to try and stamp out people using those large notes to buy gold at big premium (presumably people avoiding taxes or the law) until the notes reach their use by date and are no longer able to be used.