That plunge in Indian jewellery purchases could be taken...

That plunge in Indian jewellery purchases could be taken bullishly. It could mean a gathering pent up demand that is waiting for cheaper prices. If a conviction that prices are not coming down starts to form then some trigger could set off a rush that would then be added to the increased investor demand. The trigger could be the end of harvest, or wedding season, or something like that.

That's why I don't take much notice of that sort of data. You often don't know how it should be interpreted, or who originally put it out there, or featured it, and why. In a year we'll have forgotten that anomaly and some other noise will have been generated to take its place. It's a secular bull market and there are piddly little cycles for components within it. That's the outlook I've accepted anyway.

Here's Peter Schiff predicting $2,000 USD gold in 2009 for a lift. Might have already been posted. Plenty of other reliable commentators have been giving similarly bullish forecasts.