India and China are Golden
Posted by Investment Rarities on October 7th 2011 in China, Federal Reserve, General Economy, Gold, India, Monetary Policy, Silver, Wall Street | Be the first to comment!
“Accounting for over 55% of global craving for the noble metal, India and China ensure gold remains a trusted refuge of investment in an ailing world economy, weakened further with the deepening debt crisis in Europe and United States.” That’s the conclusion of an Asia Times Online 
report which points out that “Year-on-year consumer demand for gold in 2010-2011 grew 38% in India and 25% in China, compared with a 7% worldwide growth of gold sales.” It notes that in India, even post offices sell gold, and in China, the country’s first gold ATM was introduced in late September. The company behind it claims that it expects to install 2,000 gold ATMs across China in the next two years.
Related Links:
MarketWatch: Gold, silver end lower, break 4-week losing streak
Barron’s: Gold, silver react to downgrades of Spain, Italy just like stocks
Coin Week: Precious metals rebounding after recent decline
Reuters: Gold to stay strong, top performing funds say
Bloomberg: ‘Resilient’ gold may surge to record as economy slows, Morgan Stanley says
KWN: John Hathaway – Bank failures moving gold, this is contagion
Telegraph: Gold shines amid gloom of ‘worst economic crisis ever’
Seeking Alpha: European debt crisis and a weak dollar boost gold and silver
Minyanville: Why investors should be bullish on silver
The Street: David Morgan: Is silver breaking out of bottom?
Got Gold Report: Silver flirts with buy stop zone
Zero Hedge: CME actions both confirming and contradictory
Jesse’s Café Américain: Anglo-American bullion banking cartel at risk
Financial Times: Vietnam’s jittery gold bugs
Bloomberg: Michael Lewis: “smart people … have been for some time in metals“
NPR: Lewis on “Fresh Air”: How the financial crisis created a ‘New Third World‘
