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Friday, 16 December 2011

Indian households' $1T gold stockpile growing

Indian households hold 11% of all the gold which has ever been mined
from this planet.  Approximately 165,000 tons is recorded as ever having been mined from this planet.  But Chinese records are necessarily opaque, and it is in Chinese interests to accumulate bullion without disclosure.  Most of that global total is unavailable on the market, being held in temples or for investment, or in sunken treasure ships.  I think this is significant, because the physical market ultimately determines the derivatives and 'paper' markets.  I acknowledge this Hindustan Times' article.

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