thanks, BobJ... India offsets many positives
a friend at work is from Pakistan, sharp young fellow
not only reduced demand in gold from price, but very disruptive late monsoon season which adversely affected agriculture income, hurting demand even more
Ahmad has kept me alerted to both Paki and Indian events
I believe there are two separate demand curves, one for jewelry saving accumulation in societies with poor historical patterns in bank systems, and another in developed economies who turn to gold as an investment in lieu of paper-based securities
my view is elasticity in the former, e.g. India/Paki
and inelasticity in the latter, e.g. US/Europe/Asia
agreed, hedge covering is the biggest factor these days
I doubt gold will be released from JPM-grip until significantly more forward sales are either delivered into or covered with cash
it is a pleasure to receive feedback from someone such as you with your known experience without condescension, insult, and assholishness
I believe the biggest upcoming factor affecting gold will be the currency/bond markets, as depicted by Jim Sinclair
I have referred to its ravaging effects as the flipside of the 1990 Virtuous Cycle, by the name of the Vicious Cycle
Sinclair here calls it the "Down Spiral"
financialsense.com
thanks, Jim |
