Gold has a track record of increasing in value in times of market stress. Owning gold is also rooted in Indian and Chinese cultures, 2 of the world’s largest markets for the metal, where jewellery & bars are passed down through generations.
The retreat in prices this week, while huge for such a steady asset, has still only brought gold back to where it was little more than a week ago. The metal is still up this month, and has gained about 55% this year.
The rules now take effect on 1 July instead of 1 April, the Reserve Bank of India said. New rules may raise cost of raising capital for proprietary trading firms & squeeze profits.
Oleksandr Yakovenko, founder of Ukrainian drone maker TAF Industries, further went on to highlight the growing 'irrelevance' of European defence platforms.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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