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Bron Suchecki: India's gold swap explained by failure to increase imports
8:10a ET Friday, July 11, 2014
Dear Friend and GATA and Gold:
The Perth Mint's Bron Suchecki sees the Indian government's new gold swap -- the release of central bank gold in India simultaneous to the bank's acquisition of gold (or gold paper) in London -- as a mechanism for taking pressure off the domestic gold market without worsening the government's foreign exchange position. But, Suchecki adds, "as we are dealing with central banks, where transparency even on simple matters is rare to come by, we just don't know what the real motivation is and thus have to resort to speculation."
His commentary is headlined "No Indian Gold Import Policy Change Explains RBI Gold Swap" and it's posted at his blog, Gold Chat, here:
http://goldchat.blogspot.com/2014/07/no-indian-gold-import-policy-change...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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in Seattle on Saturday, July 12
Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 1 to 5 p.m. on Saturday, July 12, at the Hilton Seattle hotel, 1301 6th Ave., Seattle, Washington. Admission will be $100. For more information, please visit:
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