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Gold/Mining/Energy : Barrick Gold (ABX)
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To: nickel61 who wrote (3110)6/2/2002 11:20:54 PM
From: nickel61   of 3558
 
"Japanese buying of gold is tiny," writes Marc Faber,
"when compared to the country's GDP per capita. Japan
currently imports only about 100 tons of gold annually
for a population of 120 million with a GDP per capita of
more than US$35,000. Compare this to India, which
imports close to 900 tons of gold for a population of
one billion but with a GDP per capita of only around
US$300!

"Compared to India's purchases with a far lower
purchasing power, Japan's gold buying has so far been
very small, but it could rise significantly in the
future and become a price-driving factor in the gold
market

I can hear the shorts sweating from here.
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