Gold Readings: Buying bars, Gold vs. Platinum, Forex reserves
Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or “paper” proxies.
If deflation sets in and rocks the economic system it will serve as a safe-haven, but if massive monetary stimulus gains traction and sets off inflation once again it will also come into its own as a store of value. “It’s win-win either way,”
- Big Picture: Picture du Jour: Gold or platinum?
- Business Standard: Gold pushes up India’s forex reserves
| HIT HARD Trend in India’s foreign exchange and gold reserves in 2008 ($ billion) |
||
| Month-end | Foreign exchange reserves |
Gold reserves |
| January | 288.31 | 8.30 |
| February | 301.23 | 9.50 |
| March | 309.16 | 9.50 |
| April | 312.87 | 10.03 |
| May | 314.61 | 9.20 |
| June | 311.79 | 9.20 |
| July | 306.79 | 9.28 |
| August | 295.30 | 8.69 |
| September | 291.81 | 8.69 |
| October | 252.88 | 8.38 |
| November | 247.68 | 7.86 |
| December | 254.61 | 7.86 |
Related Posts: