After next week BAA might see a bit of a lull. There is about a month between Q2 production and Q2 fins. The last two years Banro has filled that time with two PRs each year for a total of three PRs each year between the shareholder meeting and Q2 financials.
Aside from Iraq tensions, Ukraine tensions and US economy tensions gold has one more potential thing in its favor. India's new budget! On July 10th India's new government will submit its first budget. They are expected to relax India's current 80-20 rule on gold imports.
Since the election premiums on physical gold in India have already dropped sharply. The article below talks about how premiums have already dropped to $5-10 an ounce down from $110 just a month ago.
If India would even slightly change the rule to 82-18 it could add $50 to gold and spur EFT's like GLD to hold more physical gold. A large change (85/90)-(15/10) could quite easily push gold well above $1,400. That would in turn surely move gold much higher as countries and consumers would accumulate physical gold in addition to EFTs.
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