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The more they knock the gold price down, the more India wants
India's March Gold Imports Surge 471% to a Record 160 Tonnes, Govt. Source Tells Reuters
From Reuters
Thursday, April 1, 2021
MUMBAI, India -- India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters today, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers.
Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 17% from an all-time high of $2,072 in August 2020.
... Dispatch continues below ...
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Trillium Gold Reports More High-Grade Gold Results at Newman Todd With Final 2020 Drill Results
Company Announcement
via PRNewswire, New York
Thursday, April 1, 2021
VANCOUVER, British Columbia, Canada -- Trillium Gold Mines Inc. (TSXV: TGM, OTCQX: TGLDF, FRA: 0702) reports the final results from the company's 2020 drill program at its flagship Newman Todd property in Red Lake, Ontario. The Newman Todd Zone (NT Zone) is a 2.2-kilometer-long structural target situated 26 kilometers from Evolution Mining's Red Lake operations.
Results from the final 4 drill holes of the 2020 drill campaign (NT20-176, NT20-178, to 180 totalling 1,862 meeters) are now complete and compiled. The large backlog of samples at the lab has been rectified and overdue results from our 2021 drilling are now being received. This brings total drilling at Newman Todd in 2020 to 6,081 meters in 16 drill holes, the first drilling since 2013 on the property.
"Drilling at Newman Todd continues to deliver gold even as we step toward the northern boundary. These results have aided us significantly in our reinterpretation of the structures controlling mineralization within the NT Zone and have helped with the new modeling, which is directing our current drilling," says Bill Paterson, Trillium Gold's vice president of exploration. ...
... For the remainder of the announcement:
https://www.prnewswire.com/news-releases/trillium-gold-reports-more-high...
The surge in imports could increase India's trade deficit and pressure the rupee.
India imported a record 321 tonnes in the March quarter, up from 124 tonnes a year ago, the source said.
The source asked to remain anonymous since he is not authorised to speak to the media.
In value terms March imports surged to $8.4 billion from $1.23 billion a year ago, he said. ...
... For the remainder of the report:
https://www.reuters.com/article/idUSKBN2BO5YB
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