Demand for gold in India has been hit due to the fall of their currency relative to the USD. And yet their inflation rate is high. That means it is the Chinese and speculators left in the market.
Just need to keep things in perspective. Gold is no sure fire thing. We are really betting on inflating away debt in Europe and USA, and continued economic expansion in China, while real interest rates stay negative.
loki
http://www.theaureport.com/pub/na/11892
"Over in India—the world's largest source of private gold bullion demand—the Rupee gold price approached all-time highs Monday morning as the Rupee fell against the Dollar.
Despite India being in the middle of the wedding season, "there is virtually no demand for gold" says Prithviraj Kothari, president of the Bombay Bullion Association.
"Demand is very slack," agrees Vasu Acharya director at Parker Bullion in Ahmedabad.
"If you compare it with last year, it is just 20% of the sales.""
gold price may avalanche, page-35
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