by hoho, February 22, 2009 10:42
I was happy that the price of gold has touched 16000 INR.I purchased it long back at a very low price.The bullish trend of yellow metal makes me think about my prudent decision years back,and I feel that every one who has some interest in the yellow metal will praise the wisdom of our ancestors.But at the same time I think about the buyers.Who will purchase this metal at such a bullish price?There are no takers.When all metal prices are delving down(please do not refer to slow rise in few metal prices in Indian market recently)globally,who are the prospective buyers so that investment in gold will give you a rich return?Ultimately it looks like another bubble which may burst out any moment since this is not the price range or this is not the usual growth path.In other countries as well they are investing in Gold converted to Bonds because the faith in paper currency and other commodity prices is showing impact of recession.I wish that I am wrong.
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