On 6th May, as the Moon passed so close to the earth, we were supposed to see the biggest Moon of the year. But I haven't caught sight of Her. In fact, I have not seen the Moon for the last three days. Where is she, I wonder, hidden behind the clouds?
Normally I also look out for the North Star too (yes, Duru, or Dhruva, is that star).
Are you surprised gold price has fallen today? Are you surprised the markets have headed down? (Thank God the Oil price has started to come down, it will auger well for all the economies when it comes down further).
People normally buy gold to give as gift to their beloved ones, and they especially do this towards the Full Moon, especially in India and the Middle East. When the Full Moon is hidden, somehow the effect is not the same. People don't buy as much gold.
India they are putting an additional levy on gold, to collect money for the Exchequer.
If it was half the 140 rupees per gram, perhaps more people would buy gold, and may actually mean more money for the Exchequer. A lower repo rate than 8 percent would greatly help the economy as well, allowing more purchasing power to feed through to the middle income people to buy autos, homes, clothes, school fees, chocolates and jewellery. In the current environment, a rate cut will be a breathe of fresh air to India.