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Friday, December 22, 2006

Gold Demand in India -- the Good News and the Bad News

This headline from Reuters does not sound like good news for gold: "India 2006 gold demand seen below 700 tonnes" But read down in the story. The guy they interview also says "Indians are spending more on gold purchases than at any point in the past" and "We remain very bullish. I think we are looking at $700 an ounce in the first six months of next year," he said. "It could be sooner rather than later."

Honestly, I don't know what to think. I thought gold was going to make a charge in the waning weeks of the year, but that doesn't seem to be panning out. Still, the longer-term uptrends are in place, so maybe it's just pushed off until after the New Year.

To read the whole story, CLICK HERE.

Oh, and here's a link to calculate the worth of your weight in gold. I weigh in at close to $1.5 million! Time to go on a diet!

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