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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Chaka who wrote (31752)10/25/2004 2:05:38 AM
From: Salt'n'Peppa  Read Replies (1) of 39344
 
Chaka, I think you misread the paragraph.

"In the past 5 months, most of the increases in the price of gold has been offset by the increase in the rupee, from under 43.5 in April to roughly 46.0 at present. This is a major contributing factor to continuing demand ..."

{{{The basic premise in this paragraph is patently wrong - the rupee depreciated from 43.5 rupees to 1 dollar in April to 46 rupees to 1 dollar!
-CK}}}

The point made was that the increasing price of gold was offset by a slightly weaker rupee, keeping retail demand up in India.

Cheers,
S&P
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