RBI Might Limit Bank Gold Imports to Ease Account Deficits

Reuters reported that the Royal Bank of India is considering the possibility of limiting gold import by banks in an attempt to curb a rising account deficit.

As quoted in the market report:

But a record high current account deficit of 5.4 percent of GDP in the September quarter has raised concern at the central bank, prompting it to link further monetary policy easing to a lower current account deficit (CAD).

To view the whole Reuters report, click here.

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Otis-Gold-LogoOtis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.

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