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Fed''s frantic money-pumping would compensate for Bank of Japan''s withdrawal
Demand For Gold Up 30%
By Jane Padgham
London Evening Standard
Wednesday, June 2, 2004
http://www.thisislondon.co.uk/news/business/articles/timid78950?
source=
Gold was in big demand during the first three months
of this year, despite a sharp increase in its price
triggered by the sliding dollar.
Figures today from the World Gold Council show
consumer demand for the yellow metal -- including
jewellery and retail investment -- was up by 12
percent in tonnage terms on a year earlier and 30
percent in dollar terms.
The gold price during the quarter averaged $408 an
ounce compared with $352 in the same quarter last
year.
In India, already the world's biggest gold-consuming
nation, demand increased by 21 percent, boosted
by a strong economy and rural customers benefiting
from the after-effects of 2003's good monsoon rains.
Jewellery is the main use for gold in India. When a
Hindu woman marries, she is normally expected to
bring a dowry of gold to her marriage. A bride will
wear up to 200 grams of gold on her wedding day
in earrings, a nosepin, ring, necklace, and bangles.
In contrast, demand from institutional investors was
subdued. Having snapped up gold in January amid
expectations of further price rises, profit-taking set
in and new investment dried up.
Gold struck a peak of $425.50 in January, shortly
before the dollar went into a tailspin. The report
notes that the speculative selloff of gold
investments appears to have continued in the
second quarter of the year and may even have
intensified.
However, Jill Leyland, senior economist at the
World Gold Council, said that worsening financial
market jitters and geopolitical tensions could
tempt more speculative buyers into the market in
the coming months.
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http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
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http://www.plata.com.mx/plata/plata/english.htm
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Eagle Ranch discussion site:
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Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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WHO HAVE SUPPORTED GATA
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Blanchard & Co. Inc.
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Michael Kosares, Proprietor
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11742 Manchester Road
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info@mocoin.com
314-965-9797
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15018 North Tatum Blvd.
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http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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