The Immediate Future Of Gold
October 16, 2014 Leave a comment
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Goldman Sachs Vs AP Gold Lovers
April 15, 2013 Leave a comment
These are interesting times for gold investors.On the one hand we have storied names such as Goldman Sachs de-emphasising gold and on the other hand we find reports of avid buying in Andhra Pradesh. Only time will tell if the MBAs or Mango People got things right.
If you are looking for the above mentioned Goldman Sachs report,here it is:Link.Scroll down to page number 74.
Here’s the TOI article about the rush by the AP middle class to buy gold following a drop in prices.
Zaveri Bazaar Gossip
April 13, 2013 2 Comments
If you believe that there is something to be gained to by keeping your ears open to bazaar gossip,here is the on-dit in Mumbai’s wholesale gold market:
The international slowdown in gold prices has hit India in a significant way. Investors are disappointed and look to sell at the earliest opportunity.The current scenario does not make for a buyer’s market. People are waiting for prices to drop further. The sale of exchange-traded funds (ETFs) and short-selling by investors has contributed to the decline.
A correction was in order given the astronomical rise in bullion over the past few years.Its the same for silver as well. This could be good news for retail buyers with the wedding season coming up in May.
May 13 is Akshay Tritiya, which may witness a drop in sales. The prospect of a free fall in prices will prompt buyers to defer non-essential purchases until Dhanteras, when prices could be even lower at round 22000-23000 Rupees per 10 grams.
Certainly,going by the subdued responses to the Siddhivinayak Mandir‘s gold auction for drought relief on the 11th i.e, Gudi Padwa, there is reason to be cautious.Small buyers were on a strict budget and the devotees who regularly make the big purchases were uninterested and absent.
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