Demand for gold in India, one of the world's largest markets for the metal, is forecast to rise...

Demand for gold in India, one of the world's largest markets for the metal, is forecast to rise to 800 metric tons in 2012, well above a prior prediction of 650-750 tons, says Amresh Acharya of the World Gold Council. The increase in the outlook follows a pick-up in purchases during the festive season and comes despite government efforts to restrict gold sales amid concerns about India's current account deficit.

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  • Venerability
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    If the PPTs of both parties really want to encourage a Christmas Rally, they should start by NOT burying Gold by rote - totally by rote - every time they stage a Treasury auction.


    Everyone knows there are three Treasury note auctions this week - today through Thursday - and this kind of three-auction configuration automatically gives confidence to Shorts and takes confidence away from Longs, because they fear there will be intervention right before each auction.


    Many HFTs and others have devised algorithms to play the expected intervention pre-auctions, distorting the Gold market - and the general market - further.


    It's getting truly silly at this point, and it disturbs virtually everyone who actually wants and supports free markets.


    I believe half of the criticism of the Fed and the PPTs would disappear at once, if the practice of burying Gold - and sometimes Oil - pre-every single note auction would just cease and desist.


    If Treasury believes there is real sustainable demand without coercion, prove it by stopping the by rote suppression of Gold pre-auctions.
    27 Nov 2012, 06:30 AM Reply Like
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