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Wednesday, 08/01/2012 11:22:12 AM

Wednesday, August 01, 2012 11:22:12 AM

Post# of 5870
Guess who the number one consumer of gold is.. Its india! They equate gold top their currency. So in their mind gold is a mini bank. 1000 of gold will always be worth 1000.

Watched a special last night. India middle class is getting ornate, and they could care less what the world price of gold is, in many instances they are already paying more than that cost to meet their demand. Estimated 700 million new wealthy middle class people in india will spend at least 15% of earnings this year on gold. They are still saving 30% of their income to boot.
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