Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (534)	5/15/1998 10:28:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Precious metals and recent developments in India. Marcos: As gold bug I am sure you know India is the world's No.1 consumer of gold. In 1997 India consumed 737 tons of it a 45% increase in over 1996. Demand in 1998 is predicted to be strong. Gold imports are now liberalized and Individuals are allowed to import up to 10 Kg of gold and several banks are allowed to deal in gold as well where consumers can directly purchase the bullion. Gold is primarily consumed in the form of ornaments and jewelry and not necessarily used as an investment vehicle. Part of the gold is used as a form of hard currency in certain underground transactions. Also gold jewelry is used as a vehicle for raising cash in case of emergencies thorough thousands of 'gold banks' where individuals can go get cash by giving their jewelry as collateral.Here is such a 'bank' from where I am from who has been in business since 1939 or so and they have grown into a multi-million dollar enterprise as you will see from their web site. muthoot.com If you want to know more about gold,in case you didn't know, you can get all the information you want from the World Gold Council Web Page. They are at: gold.org Here is a link to one of their detailed reports,but you need to have Acrobat to view it. gold.org As for silver, I am not all that familiar with the situation in India except that India consumes silver in large quantities as well and a major player in the area.Perhaps some one else knows more about it and post something on it.