Gold Looking Good In India- Market Report

by Peter Thompson (RSS feed)
Aug 18th 2005 at 6:56PM

I have a great interest in the precious metals market, and as such am following the Indian "Gold Season" with interest. From what I see, it should be a pretty good year. As so many Indians are farmers, a good crop yield will mean plenty of money to spend- and the harvest will probably be a decent one, with prevailing monsoons fading away, rice crops will be doing well. As you can see, this is a unique market, and just goes to show that in such a huge country, gold sales still rely heavily on old-fashioned agriculture. India is the motherland of gold sales, so investors will be keenly watching as the season warms up in early September, in preparation for the festivals of Diwali and Eid al Fitr.

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