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India Surprises with Removal of Key Gold Import Restriction

India surprised the gold market on Friday when it removed a fairly stringent restriction on gold imports, bringing a bright spot to an otherwise dreary gold market. The Reserve Bank of India issued a statement announcing the change on Friday afternoon, but did not give a reason for scrapping the import rule. Analysts have cautioned that the news may not give gold prices the boost investors are hoping for.

Rob McEwen on Why Gold Stocks Remain a Good Bet

"They're more heavily oversold than gold and have some very powerful upward moves when they're coming off the bottom," he said in a conference call Friday. "You have to be very nimble right now to take advantage of those moves because they seem to be very short, but I think what we're seeing here is the beginning, the starting of a recovery in this market."

Osisko Gold Royalties Makes a Move for Virginia Mines, Becomes Takeover Target

Five short months following the acquisition of the Canadian Malartic gold mine, Osisko Gold Royalties has taken a big step with its "natural evolution" acquisition of fellow Quebec-based royalty company, Virginia Mines.