Hi Maurice, I think there will be either a harsh lesson for the Indian investing public via their dodgy mutual funds, or telecomuting worker clones who put their savings faith in Aztecdom.
See below "The gold habit has hit the information virus and lost", and you know all about analyst gurus who are so right, until they become so wrong.
No compromise possible, all or nothing, tout ou rein.
Chugs, Jay
Message 17595450
<<Smith ... said Indians would inevitably shift from gold as a financial asset, to other, more sophisticated financial instruments. Wealth migration to Asia, he added, would also sap demand. "The fact is that people spend less on gold when they get richer," ... said ... increased penetration of cellphones and information technology in general into the Indian market had also taken a bite out of gold demand. ... would be better served trying to fan demand for the metal at the bottom end of the retail market, among lower income consumers ... "The average gold consumer…is more like an English football hooligan than a renaissance man. Look at what the high taste countries, like Italy, are spending their money on and it's not gold," said Smith. "If you look at the top 10 jewellery outlets in the US, only three are jewellery outlets…gold should be stacked high and sold cheap," ...
Wayne Murdy, chief executive of world number one gold producer Newmont, said Smith would make a good addition to the company's board. "We'd sure get a lot more laughs at board meetings," Murdy.>> |
