Buying frenzy. China bought a huge 10% of world gold output in 10 days.

There's more Chinese with investable income then the entire American population and the chinese government is encouraging gold and silver investing.
 
Quote from brownpenny:
----www.chinanavis.com....
----china-bought-300-tons-of-gold-in-10-days
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1) Does the link "work"? :confused:
2) That type of extreme buying has to be bearish! :eek: :p :D
 
well...it's down 5% they can buy even more. there is plenty of sellers and not much of a demand..i guess-whatever they bought-is not that 'huge' to move the gold market up
 
Metals were so bubbled up the balloon has a long way to deflate. Commodities are deflating as the world is in a recession. We are deflating the largest credit bubble ever. Metals are a good SHORT until the bubble deflates and then sure up we go again. When? I'd think right around the time Japan resets in a couple of years.
 
Quote from zdreg:

what is your downside target for gold
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I do not have a position on gold. All I was thinking when the article came out was "there is no way all these people will be rewarded."
Same old same old...
 
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