By: Neils Christensen
(Kitco News) – While the rumors of the Indian government imposing a gold ban appear to be more fiction than fact, one market researcher says that the government’s clampdown on the country’s underground economy and on “black money” will continue to take its toll on the gold market.
In a recent interview with Kitco News, Nigam Arora, chief investment officer and founder of the Arora Report, said that as citizens become more confident in India’s financial system, the need for gold will be reduced. He added that the government policies already in place are helping to reduce gold’s role as a store of wealth.
By: Neils Christensen
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