As mentioned elsewhere, the goldforecaster site mentioned that "China's government is to increase the number of gold import licenses to include non-banking importers, which will include Chinese manufacturing companies. It is clear that the government of China wants to accelerate the buying of gold in China. With their middle classes growing by the day in terms of numbers and wealth, this is in a country that is mining 440 tonnes of gold a year now and importing over 600 tonnes p.a. of it already.
In India the gridlock in gold imports at the ports is over and gold is reaching wholesalers. In line with this, the premiums on gold there have dropped to single figures down from $40 an ounce previously. Gold importers will be buying again after more than a two months of close to zero imports after an average of 70 tonnes a month previously. And this is just ahead of the major ‘festival of lights’..."