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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: John Barendrecht who wrote (619)	7/17/1997 11:10:00 AM
From: Richnorth	of 116846

John, India is not known as a gold producer, but it has the reputation of being an avid gold importer and the greatest user of gold in the world! Even though the Indian Government has relaxed import controls, a major portion of the gold that enters Indian is smuggled gold! It is believed that more and more gold will be entering India because of increasing demand by the rich folks, the noveau riches and even the not so rich and, of course, the artisans and craftsmen. The Indians are so fascinated with the yellow metal that some of them place gold grains in the mouths of their dead! And it was reported that the Nizam of Hyderabad regularly ingests gold and silver as an aphrodisiac! Someone once joked that the guy who disposes of his p--p will become rich overtime! To be sure, there is always a market for gold in India and also in the rest of Asia. And this bodes well for the future of gold. Richnorth

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