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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (6667)9/10/1999 1:38:00 PM
From: sea_biscuit   of 12475
 
India is said to possess about a third of the world's gold. And even as gold prices keep plummeting and central banks in Europe and America keep dumping their gold on the market, India is lapping it up. By the time gold becomes nearly worthless as an asset, India would probably have 80% of the world's gold!

In a way, the demand for gold in India is understandable, though -- people have always coveted gold in primitive economies that have little or no regulatory control over their financial institutions.
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