Vancouver, British Columbia--(Newsfile Corp. - April 13, 2015) - David Morgan of the Silver-Investor discusses, in his weekly video, events of the week ending April 10, 2015 that are affecting the metals and currencies markets.
In metals news, Indian Prime Minister Narendra Modi wants to get his hands on temple gold, and is planning to launch a scheme in May that would encourage temples to deposit their gold with banks in return for interest payments.
The gold would be melted and loaned to jewellers thereby reducing gold imports which accounted for 28 percent of India's trade deficit for the year ending March 2013.
Other highlights from this week's report include the confirmation from IMF Managing Director Christine Lagarde that the IMF had received its 450 million euro loan repayment from Greece. The Hong Kong Monetary Authority sold HK$6.2 billion (US$800 million) in Hong Kong dollars on April 10th, following sales of HK$3.1 the previous day, as the currency hit the high end of its trading range. Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating on Ukraine to 'CC' from 'CCC-', saying it expected a default on the country's foreign currency debt a virtual certainty.
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David Morgan is a widely recognized analyst in the precious and base metals industry and consults for hedge funds, high worth investors, mining companies, depositories and bullion dealers. He is publisher of The Morgan Report on Money, Metals and Mining and has also has recently published "The Silver Manifesto" (www.TheSilverManifesto.com). He is a featured speaker at investment conferences worldwide. For more information on precious metals and natural resources or to subscribe to his newsletter, please visit www.Silver-Investor.com.
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