They reckon Indian and Chinese gold demand has been down this year. at least the rupee has steadied against the greenback after recent falls, so maybe indian buying will stabilize at this lower level rather than continue to fall.
So who is buying? If it is just speculators anticipating QE or European equivialnt, the POG could drop just as quickly if that doesnt eventuate.
Unless FML pulls out something spectactular, we are still pretty much marching in line with the POG over the last year or so, more or less.
albaman, page-37
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