Indians can own as much gold as they want, and it sure beats the rupee


6:58p ET Saturday, January 7, 2017

Dear Friend of GATA and Gold:

India's weekly news magazine Outlook today offers a fascinating interview with Somasundaram PR, managing director of the World Gold Council's Indian office, noting that despite recent suggestions to the contrary, there is really no limit in law or regulation on how much gold Indians can own. The interview also details how Indians consider gold just as much a currency as any other and treat it that way in everyday business transactions.

While the Indian government is constantly hectoring its people to bring their gold into the financial system by paperizing it, the interview suggests that much of their gold is already functioning as both currency and savings. With the Indian rupee depreciating against gold over the last 15 years more than any other currency --

-- it's hard to imagine any practical measures by which the government will separate people from their gold.

The interview is headlined "There Is No Limit on Holding Gold: Somasundaram" and it's posted at Outlook's internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: