by Peter Schiff, Schiff Gold:
US stock markets plunged Wednesday, shedding over 800 points. Could the be the popping bubble Ron Paul recently said was on the horizon? That remains to be seen. But equities in many emerging markets have been shedding value for several months. Take India for instance. As a recent article in the Economic Times of India put it, “Asset classes are in a state of churn. One look at the chaos in domestic equities is enough to suggest that not all is well with this segment.”
So what are Indian investors doing? Buying gold.
India’s NSE equity index has fallen 7% from a record peak in August and the value of the rupee has dropped 13% this year. But as the ET reported gold sales are strong.