“It’s not the burning issue right now,” Dharmakirti Joshi, the chief economist at Crisil, part of Standard & Poor’s, said in the article. “It’s one of the items on their to-do list. The currency is strengthening and capital inflows being in a good position, it allows the government to taper it off in a pretty orderly manner. At least symbolically they should start doing it.”
India made up 25% of global gold demand in 2013, according to the World Gold Council.
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Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own shares of GLD.