The Really Useful Gold Thread

CT98,

No idea, none at all, India is refusing to buy at current Gold Prices and that is the largest market on Planet Earth.

It was US$628.80 per toz but not so sure now, because that IMHO means a US$2.36=£1.00 Rate Of Exchange probably.

Without an Indian Wedding Season Demand, there is no Physical Gold Bull, only Dollar Devaluation.

So in terms of holding Value Gold does not work IMHO because of it's Price inelasticity versus very controlled demand centres.

The big problem with gold least anybody needs reminding is that above ground there are 136,000 Metric Tonnes with Central Banks holding allegedly 36,000 Metric Tonnes, if price rises too high, the Bank and Recycling Market covers Global Demand of 3600 Metric Tonnes 37.77 years over, and the Delta between the Differential between 2600 Metric Tonnes per annum produced by Mining and Demand of 3,600 Metric Tonnes being 1,000 Metric Tonne short fall roughly 136 times over.

Gold is therefore not really ever likely to in real hard currency terms go ballistic IMHO.

All IMHO, NAG, DYOR etc

Cheers

Ash:)