Showing posts with label gold rush. Show all posts
Showing posts with label gold rush. Show all posts

Tuesday, May 28, 2013

News Reporting Compare And Contrast

I guess Bloomberg News knows more about Indian demand for gold than India does.  The disinformation propaganda machine is in full force.

http://www.zerohedge.com/news/2013-05-28/news-reporting-compare-and-contrast

Monday, April 22, 2013

China Hasn't "Seen This Gold Rush In 20 Years"

http://www.zerohedge.com/news/2013-04-22/china-hasnt-seen-gold-rush-20-years
"Older members who have been in the business for 50 years haven’t seen such a thing." The feverish buying has left many of Hong Kong's banks, jewelers, and even its gold exchange without enough gold to meet demand. Record volumes on Shanghai's exchange, lines outside Beijing jewelry stores, and the proximity of Hindu festivals drove "Indian physical demand and premiums," higher as the worlds two largest gold buying nations prompted one exchange CEO to note that we hadn't, "seen this kind of gold rush in over 20 years." It would seem the concerted effort to collapse paper prices in London and New York has provided the rest of the world a multi-decade buying opportunity.

Thursday, August 9, 2012

Gold rush in India? Government steps in again

http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=156649&sn=Detail&pid=92730
The Indian government is at it again. Worried that the flow of savings is moving towards investment in gold, India's Finance Minister P Chidambaram has said there is a need to spread financial literacy to encourage people to invest in market instruments and not bullion.

In the first two months of 2012, gold purchases in India jumped 35%, impacting investments in other instruments like the stock market, mutual funds and property. The government has said it would prefer savings to be invested in ``more productive assets'' that would help boost the growth rate.

Chirag Mehta, fund manager at Quantum Gold Fund however notes, ``Given the current economic backdrop, where governments are struggling with problems like rising deficits and unsustainable debts, it is indeed logical for gold prices to increase in value. With policy makers continuously debasing currencies, gold will be viewed as a preferred investment, lending some solace to investors.''