One of the drivers. . .

. . .for gold’s uptick today might be this report:

India’s gold imports hit 125 tonnes in March / Reuters – Economic Times/4-10-2015

– 900 tonnes imported fiscal year ending 3/31/15

USAGOLD Note: When you take into account China’s imports, these become important numbers. With all the emphasis on China, India has been overlooked as a strong source of continuous demand.  This article emphasizes the Hindu Akshay Tritiya festival, but the 36% (yoy) jump in imports could just as well indicate pent-up demand resulting from past import restrictions.  If this pace continues – and it well could – India’s gold imports could nudge the 1500 tonne per year level – about 56% of annual mine production.