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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (24999)	12/29/1998 1:42:00 AM
From: Arvind Ghanekar	Respond to of 116952

Four points: 1. The Unit Trust of India is a quasi Government organization; I do not know if they can make this one a success. 2. Agricultural income in India is exempted from income tax without limit; in states like Maharashtra and Punjab, farmers have a high disposable income; a lot of them buy gold. 3. The Indian govt. has, in the past, issued gold bonds that paid a reasonable rate of interest and were exchanged for gold on maturity.These bonds have done well. 4. If I were holding unaccounted wealth, why would I want to hold gold and worry about storage/security, when the money can be invested at rates 50% or so higher than the official rate? In a gold bull market, maybe.