FreePress India

The Yellow Metal has been a matter of discussion in every Economist’s Office amidst Global Turmoil in Europe and not to ignore the derailment of Local Economy by Dr. Singh and his scam scarred government. Thus, the situation leads to safe heaven Investment – The Gold. We have already analyzed in our previous Article – Indians’ Love Towards Gold. Today we’ll inspect the other aspects in BUYING Gold.

Sensitivity – Does Rising Price Affect BUYING of Gold in India ?
Theory of Economics suggests us that rising gold prices have a psychological effect on demand. However, ears on the ground in indicate that purchases of gold are finely balanced between buying quantity and buying a fixed amount in a normal scenario. A study of Gold Consumption Vs Price Rise reveals – A 10% rise in Gold price above

We are all aware that India ranks as the largest consumer of Gold globally, accounting for 26% of World’s Gold demand. Household gold consumption has gone from US$19 billion in 2009 to US$45 billion in 2011. Over the past 10 years, Indian household gold consumption has increased at a CAGR of 21% [More than BSE SENSEX or GDP or Corporate Profits] Private ownership of gold is fully US$1trillion. Over the past three years, Gold investments have exceeded equity savings by a factor of 11.

Indian Yellow Metal / Gold Trends in 2011 ?
As per WGC, in 2011, India’s gold demand fell 9% in volume terms. The share of world gold consumer

The Anonymous hacker group is targeting Indian Websites because of Government’s / Politicians arrogance towards Internet Censorship.  Their central theme reads,

The Department of Telecom has ordered all internet service providers to block all file sharing websites, it’s time for you to stand up and show that the corrupt government cannot stop you!

The Group has released Primary and Secondary List of Websites that will

The White Paper presented in the Parliament makes a good background reading on various ways of generating black money: the paper focuses on black money generated via non-disclosure to public authorities rather than that generated from illegal activities. Eighteen ways of manipulating accounts to generate black money are highlighted and ‘vulnerable’ sectors like real estate, bullion, Equity Trading, public procurement, transfer pricing and tax havens are identified.

The paper argues that claims of Indians holding US$1.5 Trillion of assets in Swiss / Foreign banks