Indian Demand set to soar again

India is historically the world’s biggest consumer of gold (though challenged this year by China) with gold being their 2^nd biggest import.  With the damage this does to their current account deficit their Government has tried to restrict imports.  On Wednesday they in effect loosened these restrictions.  Combined with a better than expected monsoon season meaning the lucrative farmer market (60% of gold demand) will likely increase and their central bank now talking of money printing the stage looks set for a strong increase in demand for gold and silver.