13
August
Forget the monsoon, gold imports set to bounce
13 August 2009 Reuters
On the surface of it, gold bulls would have good reason to fear months more of depressed demand from India, the world's top consumer: not only are prices still near record highs, but vital monsoon rains are in a deep deficit.
But a close analysis of import patterns over the past decade shows that rainfall is a poor predictor of gold demand in the latter half of the year, when harvest revenues and a series of festivities typically cause a spike in buying.
