Tag: gold price

Indian dealers remain optimistic about gold sales

Towards the end of 2011 India’s gold and silver imports fell. Upon conclusion of the festival season – which started back in October with the Diwali festival of light, followed by the wedding season – local dealers reported that demand for precious metals had decreased more than expected, owing to weakness in the rupee. Nevertheless, over the whole of 2011 Indian demand for gold jewellery increased by 5 to 7 % in comparison with 2010. Indian dealers remain optimistic for 2012, with locals expecting Indian gold jewellery sales to increase another 10 to 15% this year. This is good news for precious metals bulls, as India is the second largest […]

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Using vaults to store gold and silver

I consider gold and silver to be the bedrock asset of an investment portfolio. In other words, it is the foundation stone upon which the rest of a portfolio is built. Given this important role in which I hold the precious metals, it is essential to keep them safe. Safety can mean different things to different people. Until recently, for example, many investors believed that Switzerland was isolated from the world’s monetary turmoil. They therefore thought that the Swiss franc was a safe place to keep their money, but the illusion of safety vanished instantly when the Swiss National Bank announced that it would not let the Swiss franc strengthen […]

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Precious metal prices firm following French downgrade

Though it has yet to break through selling resistance at $1,650, gold has recorded small gains in trading this morning following on from Friday’s announcement from Standard & Poor’s that they were going to downgrade France from a Triple A credit rating to an AA+. Friday the 13th was an apt choice of days for S&P’s decision, with the rating agency also cutting the ratings of Austria, Italy, Portugal, Spain, Cyprus, Malta, Slovakia and Slovenia. Markets received early inkling of this move, with the euro falling below US$1.27 during trading on Friday (though S&P’s announcement was delayed until after markets had closed). Short interest in the euro is now at […]

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