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Marriage season gold demand in India swells

Marriage season gold demand in India swells | Gold and What Moves it. | Scoop.it
From www.mineweb.com - December 4, 2012 2:11 PM

Indians made jewellery purchases worth $7.2 billion in the quarter ended September 2012, belying claims of a slowdown in the market.

 

by Shivom Seth:

 

MUMBAI (MINEWEB) -

 

"India's penchant for gold jewellery does not seem to be fading away any time soon, despite the fact that the Indian government seems intent on curbing sales of the precious metal.

 

"Despite constantly rising prices, the consumption of the yellow metal has been steady. With the wedding season in full swing in India, there is no slump in the sales of gold.

 

"With the rate of pure gold shooting up to $608.97 (Rs 33,300) per 10 gram for 22 karat gold, one would have rightly presumed that gold jewellery is well out of the reach of a majority of people.

 

"Not so. In the quarter ended September 2012, Indians made jewellery purchases worth $7.2 billion (Rs 395 billion). In contrast, gold exchange traded funds (ETFs) garnered just $91 million (Rs 5 billion) of inflows.

 

"The wedding season, which extends well into the new year, is expected to ensure even better sales for gold retailers. ..."

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Charles Hugh Smith: Why the Innovation Premium Is Diminishing

Charles Hugh Smith: Why the Innovation Premium Is Diminishing | Gold and What Moves it. | Scoop.it
From charleshughsmith.blogspot.com - January 16, 2:35 PM

The acceleration of competition as high-tech tools and skills have dispersed throughout the global economy is an under-appreciated trend.


In the late 1980s, Apple famously reaped $1,000 in gross profit on each Macintosh computer sold: Apple was able to charge a very high premium for the innovations the Mac embodied. (Note: this was back when $1,000 was a substantial sum; that is over $2,000 in 2012 dollars.) This ability to reap a substantial premium for innovation is fundamentally what drives the technology marketplace: since competition arises in any high-profit space, the premium for innovation degrades as competitors enter the space. In the good old days, it took years for serious competition to arise. As the bumper sticker crowed, "Windows 95 = Mac 1985." (As I worked with both Mac 1985 and the crash-prone Windows 95, I would say Win95 was still substantially behind the Mac in stability.) The acceleration of competition as high-tech tools and skills have dispersed throughout the global economy is an under-appreciated trend. Apple has earned billions of dollars in profits over the decades as its innovations enabled the ...
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