Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Taikun who wrote (32370)	11/17/2004 8:08:42 AM
From: Condor	Read Replies (1) of 39344

I like the fact that the gold ETF is coming out while there is still two months of Indian wedding season. With the Rupee high I expect the dowries to full of gold. About 1985 I went to lunch in New Orleans with the President of the Bombay Gold Bullion Dealers Association and he told me then that they consumed 200 tons of gold per year. As I understood it, many Indians accumulated gold in the form of gold jewellery as thier life savings in place of vehicles that you and I know such as equities, term deposits, real estate and so on. If I remember correctly, at that time he told me it was illegal for them to hold bullion but the common practice was to do just that in the form of jewellery. I wonder if that is the same today. EDIT: I just now discovered this wonderful item. Message 20773874 C

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