While the response to India’s Gold Monetisation Scheme has been fairly muted so far, the Sovereign Gold Bond Scheme has been a success, having attracted the equivalent of almost four tonnes of gold demand in less than three months. Going forward, we think that some of India’s gold imports for investment purposes could be displaced by the gold bonds, but the country will continue to be a major importer of gold in the near future.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.