Svetlé vyhliadky pre zlato v roku 2007

Súkromné osoby v Indii vlastnia 14tis. ton zlata v šperkoch a napr. počas jediného dňa indického jarného sviatku sa predalo 70tis. kg zlatých šperkov. Tri nové ETF vznikajú v Indii a štyri v Európe. Ťažba zlata v roku 2006 oproti minulým rokom poklesla.

Deutsche Bank AG, the world's largest securities firm, expects gold to rise as the US dollar falls further, and individual traders and dealers are also backing gold to go higher this year. Bloomberg says that 22 out of 31 finance professionals surveyed earlier this month all advise buying the metal. Gold has the best market fundamentals during the past 25 years.


India's Demand : Set to Rise?

India leads the world in its love of physical gold – and by March the sub-continent is due to get the first of three exchange-traded gold funds (ETFs) too. These products have proven very popular in the West, despite charging 0.4% annual storage fees and merely backing each share with gold held in trust, rather than giving investors outright gold ownership.


New gold ETFs in 2007 are also planned for Germany, Italy, Belgium and Luxembourg. But India could put them all in the shade.


Gold already has "the highest penetration of any other financial product," says the head of Kotak Mahindra Bank, the company behind one of India's new gold ETFs. The numbers are staggering. Private individuals in India own more than 14,000 tonnes of plain necklaces, rings and bracelets – nearly 10% of the world's entire above-ground gold stocks, and a larger hoard than the US, German and French governments' put together.


The festival of Akshaya Thrithiya in late April should then give a more traditional boost to India's physical gold demand. The third most auspicious day in the Hindu calendar, it packed Bangalore’s 2,000 gold shops “choc-a-bloc” last spring, says the Times of India. Across southern India, 70,000kg of gold jewelry was sold in one day. The number of shoppers rose 50% from 2005. This year's festival could see gold sales rise further if last autumn's Diwali festival proves a guide. In October, says Suresh Hundia of the Bombay Bullion Association, India's gold consumption more than doubled in October.


India's money supply, for example, has surged more than 200 times over since 1975, helping to knock the value of the rupee down from 8 per US dollar to 48 per dollar.

Source: GoldSeek

29.01.2007

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan