bmac10
My interest in how the Bombay market is doing relates to its potential impact on the price of gold. The Indian currency fell a lot recently relative to the USD, and I read that they have reduced their gold purchases to around 20% of the recent past. India accounts for about 20% of new gold demand and if their market and currency are not doing well, then I suspect the price of gold will fall. I have the same concerns about China, which was the next largest (perhaps the largest) buyer of gold. Falling Chinese property values means people will reduce their demand for other assets, including gold and shares.
I had a look at the other BRIC, Brazil, stockmarket which also looks like it has a long way to fall.
There is no real safety in this market other than in cash. But the gains are very small so I want to be partly invested in case the printing presses are let loose soon. It is a gamble.
loki
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