However, gold analysts argue that any easing on tariffs will be in the mid- to long-term. An India Bullion and Jewellers Association official has stated that the BJP leaders would review gold policies in the first three months after an election victory.
“We feel that removal of gold policy curbs won’t happen in a hurry, and it will take another two months for further action,” Prithviraj Kothari, a director at India Bullion and Jewellers Association, said in the article.
Investors seeking to gain access to changing bullion prices can look at physically backed gold ETFs, including the SPDR Gold Shares (NYSEArca: GLD), iShares Gold Trust (NYSEArca: IAU) and ETFS Physical Swiss Gold Shares (NYSEArca: SGOL). The ETFs have gained about 7.3% year-to-date.
SPDR Gold Shares
For more information on gold, visit our gold category.
Tom Lydon’s clients own shares of GLD.