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[tomterrific14]

http://www.bloomberg...s-rupee-1-.html

[tomterrific14]

Another opinion. "Indian Commerce Minister Calls For Gold-Import Duty Cut - HSBC Wednesday August 13, 2014 8:22 AM In an interview with the Press Trust of India, Commerce and Industry Minister of State, Nirmala Sitaraman, said the country’s gold import duty should be eased, HSBC says. The duty has not only impeded the gems and jewelry industry, but it has also led to a spike in illegal gold imports. “India’s appetite for gold may hinge on the performance of the country’s current account deficit. The Indian government has often cited bullion as the primary cause for the country’s ballooning trade deficit,” HSBC says. The bank notes the current account deficit has narrowed according to the latest data, and the May election of Prime Minister Narendra Modi fanned hopes some these restrictions may be rolled back. “While there has been some effort to ease bullion restrictions, such as allowing more entities to import gold, the import duty remains at 10%. A further narrowing of the country’s current account deficit may be an important factor to unlocking India’s bullion appetite, in our view,” HSBC says. By Debbie Carlson of Kitco News; dcarlson@kitco.com Gold Holding Within $25 Range Wednesday August 13, 2014 8:22 AM Gold prices are holding in a $25 an ounce range between $1,300 and $1,325, says MKS (Switzerland). There was something on word of Russia sending in 280 trucks with relief goods to Ukraine under the pretense of humanitarian aid, they say, which gave the yellow metal a bid. While retail and some fund buying lends support, producer selling to lock in hedges keeps gold confined to a range, they add, with volumes light. HSBC says despite the move back over $1,300, gold is having trouble building on gains and the bank doesn’t expect that to change. “We do not expect gold prices to move significantly in either director given the summer doldrums. However, bullion continues to hold a ‘geopolitical’ price premium, which leaves us with a slight negative bias towards gold should geopolitical tensions ease,” they say. By Debbie Carlson of Kitco News; dcarlson@kitco.com Silver Looks Weak – MKSWednesday August 13, 2014 8:22 AM While gold looks set to hold around $1,300-$1,325, silver appears “a little more bearish,” says MKS (Switzerland). “The grey metal (is) unable to break through the-200 day moving average (around) $20.14 currently for the last week after multiple attempts. We look to fade rallies into this area with stop just above $20.30-35,” they say.