Check Out The Indians' Perception Of Gold

Sunday, January 22, 2006

I repeat myself when saying that India is the biggest buyer of gold since years, now to the tune of 600 tons per year or 100 tons more than the Western central banks are selling.
Watch this BBC newspiece that packs the Indians' perception of gold in a nutshell.
Add in that the Islamic world is pursuing a gold dinar and post your (dis)agreement that we are still in the early stages of the best bull market this decade will see.
9 days before the handover of the Fed from Greenspan to Ben Bernanke I would not rule out very erratic movements in all markets, though.
The long-term trends may get very distorted over the next 10 weeks as Bernanke will have to prove his hands on steering these wobbly markets and the Fed is increasingly considering asset prices in its monetary policy. At least on the East coast. Janet Yellen (Fed San Francisco) has the opposite view.
So far the easy money fraction has the upper hand, latest M3 figures show.
All this leaves 2 options: Turn into an insomniac as me and watch your positions 24/5 or stay aside for a while, sleeping soundly on some bullion.


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