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EPS100Momentum
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Author has a degree in Engineering and is an avid investor in the market. Experience in industrial materials and structures. In college studied atomic & nuclear physics as well as material engineering. Eastern European
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  • Major move coming in Gold, because India the #1 consumer of GOLD is going 0 comments
    Aug 19, 2010 2:50 PM | about stocks: AUQ, GLD, GOLD, GG, NEM, AU, KGC, NG, ANV, SA, RGLD, HMY, AUY, IAG, EGO, AEM, ABX, GFI, BVN


    into its Wedding Season starting in Sept. thats the reason Gold rallies every year in the Fall. You gotta know what causes the trends to make money in the market, otherwise your trading blindly.

     

    Indian Wedding Season increases demand for gold

    India is the world's biggest buyer of bullion and the country's wedding and festival season has boosted prices every year since 2002 with September the strongest buying month.

    India's wedding season runs from late September to December. Over the past decade, gold has risen by an average of 10.1 per cent from September through to December. Apart from weddings, Indian jewellers also buy the gold for the Hindu festival of Diwali, or the Festival of Lights. 

    Eighteen of 34 international traders, investors and analysts surveyed by Bloomberg News advised buying gold. Eight respondents said to sell, and eight were neutral.

    The jewelry market accounts for about three quarters of the gold sold each year.

    India is the world’s number one consumer of gold, accounting for almost a fifth of gold sales.

    There are spikes in gold demands both January and September, months when Indian manufacturers typically restock inventories to meet the demands of the two Indian wedding seasons. The first, mentioned above, starts in November and ends in December. The second starts in late March and runs through into early May.



    Disclosure: Author is Long Call options of GRS
    Stocks: AUQ, GLD, GOLD, GG, NEM, AU, KGC, NG, ANV, SA, RGLD, HMY, AUY, IAG, EGO, AEM, ABX, GFI, BVN
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