Today looks like it just may be the Kareem Abdul-Jabbar of metals markets.
Metals are up across the board and unless we get a banker smack-down, it looks like to me anyways that this strength has legs today. Fingers crossed. November and December are tradionally strong months for Gold and Silver, so lets start this off with a bang!
Interesting Gold sidenote - Monday, November 5th is the Indian holiday of DHANTERAS. A day in which Hindu Indians traditionally make large purchases. On this day, Hindus consider it as an fortuitous day to make large purchases, especially in Gold (or Silver) coin, bars and jewelry as well as new utensils.
It is believed that new "Dhan" (wealth) or some form of precious metal is a sign of good luck. The day also sees heavy purchases of appliances and cars.
Priced in Rupee's this has been a wise investment. The cost of Gold per Rupee has gone up 5x since 2005.
So Happy Dhanteras Everyone...
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