India buys about 1000 tonnes of Gold in average (est).. (1000 tonnes of gold at $1750 = about $56 Billion )
The US Central Bank and The European Central Bank are at a major currency war.. their main goal is to drive down their currency as low as possible without crashing it totally.. (This is perfect for buying precious metals)
The Rupees are going down the toilet just like the USD and EURO.. if you're a indian or any race living in india .. you don't really want to hold too much indian rupees in your bank account.
the smart indians are exchanging their rupees into Silver and Gold..
all the latest rules doesn't really hurt the indian gold buyers that much.. BECAUSE INDIAN BUYS GOLD IN CASH