bloomberg.com / By Nicholas Larkin & Glenys Sim / Jan 22, 2013 9:02 PM GMT+0800
The BOJ said today it will buy about 13 trillion yen ($146 billion) in assets per month from January 2014 and set a 2 percent inflation target. Investors expected bolder action now, said Greg Gibbs, a senior currency strategist at Royal Bank of Scotland Group Plc. India raised taxes on gold imports yesterday to reduce a record current-account deficit and moderate demand.
“This is seen as mildly bullish for gold, but has been mooted for a while and is fairly discounted,” David Govett, head of precious metals at Marex Spectron Group in London, wrote in a report, referring to the BOJ stimulus. “India has been a big buyer of gold in the past month, ahead of this announcement, and I doubt it will affect the market in a big way,” he said, referring to the increase in duty.