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To: Alex who wrote (17146)	9/1/1998 12:44:00 PM
From: Giraffe	Respond to of 116770

One more point: much has been made about the Indian jewellery market as THE big factor in the POG. While this may be true I believe it's possible to make too much of this. The average ANNUAL per capita income in India I believe is about $300 or $400. Middle class means a family that can afford a motor scooter and a tv. In other words, the Indian middle and upper class buy a lot of gold and they can move the entire gold market and yet they don't have anything remotely near the disposable income of people in the west. When North Americans or Europeans start putting a tiny portion of their assets into PMs the impact will be quite startling.