Here's a pictorial factoid from a Mineweb article/link.
Gold bulls will say that the "big dogs" have moved into the gold market. These dogs are central banks and the truly big money in America, Europe and elsewhere in the world.
While India as a whole could afford to import constant quantities of gold, one could argue that gold was relatively cheap. Such is not the case now. But "not cheap" does not mean "too expensive".
Gold is in the nether region of investing: a bit on the glamor side of things but with strong chart patterns and a strong story given the debt-upon-debt nature of many Western, Japanese and now Chinese economies.
If India starts buying at the current gold price, watch out above!
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