Gold News: India Expecting High Sales

Gold jewelry, india wedding gold
Written by Mike Hammer
Heading into Diwali and the marriage season, initial projections from India suggest higher gold sales.  And not only for the traditional gifting reasons. A higher rupee (due to the continuing currency decline) and the lack of performance of Indian equities (read: stocks) is making traders, investors and spenders look elsewhere.  Looking elsewhere usually means “fallbacks” for most people, and in India that means GOLD. 

So, following the logic trail, local pundits expect higher gold sales this year over last year. This also means higher projected sales for related markets such as Dubai. Yesterday’s global bond sell-off in the face of rising interest rates isn’t making investors feel any more secure either, so one might logically expect more interest in gold in the coming weeks and months. For today though, we’ll get caught up with the news out of India, and look forward to your Comments below.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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