Cory's Insights – Mon 7 Jul, 2014
Gold swaps to cut imports, ease payment pressure
This is an interesting development out of India. While the details are still scarce the initial fact appears to be that India is exchanging some of its older gold – which is of a lower purity – for more pure gold that could be held outside its boarders to be sold or collateralize. We will have to see how this story develops.