Tuesday, May 27, 2014
And how's the monsoon coming along?
Let's check in on the Indian monsoon, which is a critical input to worldwide gold demand though it's not as if Wall Street Whitey will ever clue in:
Reuters - weather office forecasts delay in monsoon. This was as of May 15th. Since then....
Al Jazeera - pre-monsoon rains hit Kerala. It's apparently ahead of schedule in the south. The south is where the farmers are richer and buy more gold, so that's encouraging. And as for the rains being forecast at 95% of average? A 5% drop doesn't really affect yields, not if the rain still covers the country evenly.
All of this, remember, with a pinch of salt, because Indians are the world's biggest worriers and whiners.