Is Gold prices ready for a huge fall?

"Gold is dug up, refined and buried again." Tons of gold is buried inside the vaults of individuals. Not anymore? A very explosive and intresting finding by RideNifty.com research group. Read on.

Radha(ofcourse all names changed in this story), 42, is a primary school teacher she is going to realize her long cherished dream of owning a car. She has booked a Maruti Swift. And the money for the purchase come from sale of 25 sovereign of Gold she had inherited from her mother. And her mother in turn inherited it from her parents who brought it 1970's at the price of less than 50 Ruppees per gram. Ravindranath, 64, an Ex-Army man and his wife was feeling retired life so boring. It was then the gold prizes zoomed and they decided to sell a part of it they own to buy a new flat LG television set , a DTH and dozens of movie DVDs from moserbaer. Now their life is full of reality shows, movies and music. Their life is no more boring. Abraham and Elizebeth is parents of Alice, who has decided to use traditional coconut wood jewellery instead of gold ornaments . Because gold ornaments is no more afforadble to them and use of coconut wood jewellery gives their daughters marriage a more traditional outlook. Well, these are few of the very intresting stories RideNifty.com research group found out in the changing consumer habits of Indians who had buried Thousands of tons of gold in their personal vaults.


In last 6 months gold prices has run up more than 33%. And now it is trading at an all time peak of 1190. Analysing in the light of new findings by RideNifty.com. Gold prices can correct to a great extend at least back to 900 if not below that.