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Why Wall Street is unmoved by global gold fever

Posted on 07 May 2013

Gold-buying fever continued unabated among the untutored masses worldwide last week. Imports to India, the biggest gold consumer by far, were running at five times average levels, according to investment bank UBS.
Chinese smallholders used their May Day holiday not to head for the beach, as this column naively suggested last week, but to flood the gold dealers in Hong Kong. Turkey bought more gold in April than in any month since the fateful days of August 2008. And so on. Were the financial pros back in New York and London impressed by this spontaneous outpouring of gold love? Not a bit………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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