India is one of the major Gold consumer in the world , especially during the Diwali celebrations where gold is offered as gift . As the major religious festival season of Diwali begins in India, the buying of gold and silver as gifts is a common practice. It is potentially a boom time for businesses across the board, with presents such as necklaces and bracelets traditionally bought and given to friends and family. But the recent dramatic increases in price of both metals is making it difficult for many Indians to be as generous as they might want to be. After hitting a high of $1,900 an ounce in early September, the price of gold has fallen to just above $1,500. European policymakers are struggling to resolve the region's debt crisis, and such fears would normally drive the price of gold higher. But with the commodity already at such lofty heights, many investors now feel the only really safe bet is cash itself, and hence the selling.
Thursday, September 29, 2011
Bob Chapman -The Sovereign Economist 28 September 2011
Bob Chapman : 5 banks control 94 percent of all derivatives most of them are CDS Credit Default Swaps , but out of that total 85 percent or 80 percent is owned by JPM , If he derivative market goes down JPM is history easily , the whole thing is a scam absolute scam even the options market is a scam , anybody that goes into options is out their mind , there is no way you could be a winner , do not trade the market I was a professional trader for 25 years listen to me you are going to lose you do not stand a chance , markets are not scientific
Wednesday, September 28, 2011
Bob Chapman - Discount Gold & Silver Trading - 28 Sept 2011
Bob Chapman : despite the ferocious attack against gold and silver market , they were not as effective as they wanted to be cause there are so many physical buyers out there , physical gold and silver is extremely difficult to find worldwide , I got this report the other day from Singapore yesterday I got a report from Lima Peru a big silver producing country : No Silver around
What they did in the market tells me that there may not be a deal in the Bundestag tomorrow , that's what happened today and it is not going to work ,
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