Import is returning to the normal prevailing three years ago
The bullish outlook for gold is seen as a trigger for silver to perform better going ahead.
Crude oil's long price slide might be ending, feel some experts. Last Friday, the price of Brent crude, seen as a benchmark for what India uses, saw a low of $75.3 a barrel - it is now trading around $79. The fall has been nearly a third from its high seen in June, only five months earlier.
Banks have swung into action as gold prices continue to slide. Reduced loan-to-value ratio (LTV), cautious lending, and a close monitoring of the gold loan portfolio have prompted them to hedge their loan books against the reduction in prices.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
The price of gold in India seems to have bottomed out.
Though the summer is expected to be hotter, global and domestic forecasts point to good rains.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
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