Precious Metals
The Indian Gold Price – is it Marital Slavery?
The Indian Gold Price – is it Marital Slavery?
We have entered the second decade of a brand new century. Our world has – and is becoming more advanced in every possible aspect! And India is well up in the rankings, having engineered her own fighter planes and fighter tanks, indigenous hull-mounted sonar, her own space rocket, a cryogenic engine which sends satellites soaring into orbit – and her own UAV! She has given birth to some of the greatest and profound minds of the times – the incomparable Mahatma Gandhi and C. V. Ramen to name just two!
Why is it that this modern nation, which has some of the richest and bright people on the planet, still clings to the old tradition of arranged marriages and dowries? Carefully planned with their eyes on the past and the future, India’s people choose partners for their offspring, based on the practices of their ancestors! And gold – that noblest of metals, plays a huge part in fostering and perpetuating this tradition.
The Indian gold price is high and remains so as a result of the constant demand from the people. Everyone monitors the Indian gold price because sooner or later, everyone is going to buy some – and being aware of the Indian gold price is critical to traders who do the buying and selling on the commodities markets. The Indian gold price has an enormous influence on the price of gold worldwide, influenced perhaps by the fact that all Hindus look upon gold as holy and auspicious and need to possess it – and when they buy it, they keep it, rarely selling it no matter what the Indian gold price reaches. The buying of gold is an important tradition of India’s population and therefore, monitoring the Indian gold price is a nation-wide practice.
Around the globe, people invest in gold as its value rarely decreases. And in India, gold is almost an essential purchase, spurred by the Indian gold price. Because the Indian Government controls the rate of gold imports, it maintains the Indian gold price at a high level. This benefits the many people whose livelihood depends upon the Indian gold price. Goldsmiths, jewellery manufacturers, bullion dealers and gold commodities investors are all heavily dependent on the Indian gold price.
Getting back to those arranged marriages – parents making adult decisions for their children and carefully selecting the partners with whom those children must spend their lives. To a degree this can be acceptable but it can intrude on the particular son or daughter’s thoughts and feelings and whose opinion on the subject is rarely considered. On occasion, the groom’s family makes outrageous demands on that of the bride, especially in present-day concepts. The groom’s family will accept the bride only if the dowry, as selected by the family of the groom, is paid up-front in money, assets or gold, resulting in a huge jump in the Indian gold price. Today, this should be considered unacceptable by the bride’s family but they give in and abide by obligatory tradition. This practice is carried out throughout India and not only by the middle and lower groups, but also by those of high social position. It is a source of pride to the receiving family and a constant triumph of which they can boast to their friends and neighbours.
It is well past the time when Indian families should start considering this serf-like and enslaving tradition and put it back where it belongs – in medieval times. Tradition is all well and good but needs to adapt itself to changing times and conditions. Tradition should benefit those who follow it, not encumber and destroy them. Today, Indian daughters are earning university degrees and are employed in professions unheard of for women just a generation ago. And few of their families can possibly pay these crippling marriage demands. As well as hiking up the Indian gold price, the effects can cause tragedy and sorrow in addition to tearing apart the generations which follow.
Article Source: http://www.articlesbase.com/investing-articles/the-indian-gold-price-is-it-marital-slavery-4411568.html
About the Author
Nrupal Das
MIG-A/21, Nayapalli, Bhubaneswar.
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Gold:we spoke about the real indication of a quickly changing market sentiment. We saw record sales in physical gold from Hong Kong to China and over 85000 ounces of the United States mint gold coins sold in the first 12 days of January. This incredible accumulation of physical gold was indicative of broad investor sentiment, tipping toward renewed interest in the precious metals markets. Although on Friday of last week I had genuine concerns about a possible correction, my daily subscribers know that this sentiment changed on Sunday and Monday of this week and were able to stay positioned according to my market advice. Typically at hard Fibonacci retracement levels there is a significant opportunity for some type of correction. However, in a super bull rally the precious metals markets have a tendency to consolidate, trade sideways and then resume their upward ascent. Such would be the underlying bias, as we saw both gold and silver trade substantially higher throughout the week. As we continue to watch the precious metals appreciate in value during this first rally of 2012 I am reminded of past explosive upside moves that were evident last year but of course were absent during this multi-month correction. As most of the world is currently in the heart of the winter season, this recent rally provides some well needed sunshine. With gold trading at a five-week high and seeing significant gains, coupled with the explosive breakout in silver prices today, we can rest <b>…</b>
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Gold – A Niche Investment
Gold is a scarce natural resource and its scarcity helps keep it valuable. Unlike paper money gold cannot be printed to order. In the turmoil of today’s financial markets currency is being generated from nothing in the trillions but historically currencies which are not backed by precious metals have a tendency of being worth less over the years. Typically these currencies end up being worth nothing. For example the US dollar lost 98% of its purchasing power in the twentieth century.
Looking back over thousands of years the erosion of currency is nothing new. Kings, Queens, and Emperors introduced coins as substitutes for precious metals. It did not take long before those monarchies and governments started to water down the precious metal content of the coins. The idea that the coins and coinage were convenient for the people was really a smoke screen as the real beneficiary was the state and the profit garnered from holding onto the precious metals themselves.
Today gold offers a small niche investing opportunity that has a $2 trillion pool of financial assets. Over the last few thousands of years 150 000 tonnes of gold has been mined which exists as jewellery, bullion, artefacts or scrap. If all the gold in the world was smelted into stackable bars each side would just about be the length of a tennis court. At today’s prices this cube of gold would be worth $4 trillion.
Gold is at an incredibly appealing price point which is attracting a lot more of it to appear back onto the market. This includes gold in storage vaults, central banks, gold funds, personal jewellery and ornaments, gold in safety deposit boxes and no doubt gold under the mattresses. This gold accounts for half the world’s gold or about $2 trillion.
Regardless of how high the price of gold climbs the other $2 trillion of gold, the remaining half of the worlds reserve, will not find its way back onto the markets. This includes national treasures, artistic treasures, masterpieces of jewellery, heirlooms, valued personal possessions, and religious artifacts. This amount of gold accounts for 1% of all financial assets.
Arguably financial assets grow around 7% per annum and mining only adds between 2% to 2.5% a year to the world’s global reserve of gold. In stands to reason then that there will continue to be a widening gap between the value of global financial assets and the worlds gold reserves. Thus gold continues to represent a fantastic niche investment opportunity.
Article Source: http://www.articlesbase.com/investing-articles/gold-a-niche-investment-4419998.html
About the Author
Arnold Savage runs www.goldeneaglecoinssite.com which has great guides on all aspects of Gold Bullion investing including Gold Buffalo Coins – A great Hedge for your Portfolio and Buffalo Coin Proofs.
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