Gold and Silver Explode Higher as Indian Premiums Soar

Gold Called $142 Higher, Silver Up $4.10

Good Morning. Gold is $142 higher this morning and Silver is $4.10 higher.

While its too early to declare things are finished ranging, it is not too early to say this is very constructive off recent lows. The moves are inline with other markets in direction ( dollar down, oil down) but the magnitude is something special. We hope to have more good news to add later today.

Indian Gold Import Freeze Sends Premiums Soaring

GFN – MUMBAI: India’s gold and silver imports have effectively stalled for more than five weeks as administrative delays and tax uncertainty jam bullion shipments at customs, tightening supply in one of the world’s largest precious metals markets and driving local premiums sharply higher.