Singapore, Bangkok May Be New Gold Trade Centres

[churchill]

NEW DELHI: A tectonic shift in global gold markets looks imminent, with the world’s top two traditional centres of gold, Switzerland and Dubai, set

to make way for the South East Asian hubs of Singapore and Bangkok.

The reason: the recent India-Asean free trade agreement, which could make it cheaper for India to source gold from these two countries. India being the world’s biggest gold consuming country in the world, any change in its sourcing pattern will easily change the market dynamics.

The pact signed by India with the 10-nation Asean trade bloc entails zero duty on most gold products to be imported from Asean nations from 2013 onwards. It’s a concession India has not given to any other gold producing country as yet, a SundayET analysis based on inputs from the ministry of commerce and industry has revealed.

According to data available from April 2008 to February 2009, India imported gold worth $9.1 bn from Switzerland and $2.9bn from Dubai against a meagre $30mn from Singapore and Thailand combined.

http://economictimes.indiatimes.com/Bullio...how/4949614.cms

[Naam]

interesting! kann vee buy der gold tcheaper in Singapur und/or Bang-a-Cock after ze imminent tektonik shift?