India

Authored by Mike Shedlock via MishTalk.com,

In addition to its crackdown on cash, India stepped up its attack on gold. The aim is to cut down on gold imports. India does that in a roundabout way, by cracking down on exports.

Bloomberg reports India Bans Gold Exports Above 22 Carats to Plug Trade Loopholes.

India has banned the export of gold products with purity above 22 carats with immediate effect, a move that the industry sees as a way of curbing irregularities in the trade.

 

With the world obsessing over every increasingly childish outburst in the daily back and forth between Trump and Kim Jong-Un, another conflict which has so far gone largely unnoticed by the global media continues to grow on the border between India and China.

In the latest escalation between two nuclear powers, China has turned the war threat amplifier up to '11' by threatening India (in an article published a Chinese state-controlled newspaper) that it could conduct a "small-scale military operation" to expel Indian troops from a contested region in the Himalayas.

After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017's best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued to cover short hedges, sending their net position to the most bullish since the summer of 2015.

Gold A Store Of Value In $217 Trillion Global Debt Bubble