{"id":13877,"date":"2012-08-25T03:10:44","date_gmt":"2012-08-25T01:10:44","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/wrapup-1-indian-gold-imports-under-threat-from-price-rally\/"},"modified":"2012-08-25T03:10:44","modified_gmt":"2012-08-25T01:10:44","slug":"wrapup-1-indian-gold-imports-under-threat-from-price-rally","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/wrapup-1-indian-gold-imports-under-threat-from-price-rally\/","title":{"rendered":"WRAPUP 1-Indian gold imports under threat from price rally"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* India is the world&#8217;s biggest bullion consumer<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Its imports in second quarter fell more than 56 percent<\/p>\n<p><span><\/span><\/p>\n<p>* India has increased gold import duty, may lift it more<\/p>\n<p> (Adds quotes, details)<\/p>\n<p><span><\/span><\/p>\n<p>By Siddesh Mayenkar and Charlotte East<\/p>\n<p><span><\/span><\/p>\n<p>HYDERABAD, India\/LONDON, Aug 24 (Reuters) &#8211; Gold imports<br \/>\ninto India are set to fall further this year as global bullion<br \/>\nprices are driven higher by surplus cash in the market and by a<br \/>\nweaker dollar, delegates at a major conference on the metal said<br \/>\non Friday.<\/p>\n<p><span><\/span><\/p>\n<p>As it is the biggest consumer of bullion, India&#8217;s demand has<br \/>\ntraditionally been a key determinant of gold prices, although it<br \/>\nhas been overtaken in recent years by the weight of Western<br \/>\ninvestors seeking sanctuary from the global financial crisis.<\/p>\n<p><span><\/span><\/p>\n<p>Speculative and investment demand has led prices to more<br \/>\nthan double since 2008, curbing purchases from price-sensitive<br \/>\nIndian buyers. India&#8217;s gold imports in the second quarter<br \/>\nplunged more than 56 percent on the year to 131 tonnes,<br \/>\naccording to industry body the World Gold Council.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;For the gold price (rally) to continue, someone else would<br \/>\nhave to step in to replace India,&#8221; said one London-based bullion<br \/>\nbanker attending the International Gold Convention in the Indian<br \/>\ncity of Hyderabad.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Investors in America or in Europe might step in and make up<br \/>\nthe difference, but it (India&#8217;s falling consumption) is<br \/>\nsomething that will have a negative impact on the gold price.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* India is the world&#8217;s biggest bullion consumer * Its imports in second quarter fell more than 56 percent * India has increased gold import duty, may lift it more (Adds quotes, details) By Siddesh Mayenkar and Charlotte East HYDERABAD, India\/LONDON, Aug 24 (Reuters) &#8211; Gold imports into India are set to fall further this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13877","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13877"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13877\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}