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To: Haim R. Branisteanu who wrote (13039)5/1/2004 1:02:39 PM
From: Peter Joseph  Read Replies (1) | Respond to of 110194
 
<< China has an affinity to gold but India has an affinity to silver >>

And what makes you think that?

The dowry system (still) rules in India. And gold (ornaments) is the biggest portion. Watered down (22 karat). And yes, purity is a big issue. Indian women (and many men) love gold dearly, more so than the western women love diamonds.

A massive, unknown amount of gold is stashed away in the safe-deposit vaults of the banks in India.

Silver OTOH, account for less than 1% of the Indian ornament market. i do realize that silver has many other uses.



To: Haim R. Branisteanu who wrote (13039)5/1/2004 8:05:43 PM
From: Peter Joseph  Read Replies (1) | Respond to of 110194
 
Gold in India:

A snippet from a newspaper this week:

"The largest importer and consumer of gold, India's annual consumption of gold is around 800 tonnes, with recycled gold accounting for around one-fourth of the demand."
===============

You've got to see the gold-love out there. Women decked in jewelry are common, especially during middle-class social gatherings. Ostentatious is putting it lightly.


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