China just called Gold a "bubble"

S

silk

I would think that would drop gold $40. But not yet.

CH) China PBoC Dep Gov Hu: Sees a bubble in the gold markets; Says the price of gold is at a very high level - Apple Daily
- Says the central bank will be wary of investment in "bubble assets"

***Note: There has been some market chatter that emerging market central banks such as China may follow India central bank and diversify their FX reserves into gold. China central bank's gold holdings are seen at about 2% of its total reserves
 
Quote from silk:

I would think that would drop gold $40. But not yet.

CH) China PBoC Dep Gov Hu: Sees a bubble in the gold markets; Says the price of gold is at a very high level - Apple Daily
- Says the central bank will be wary of investment in "bubble assets"

***Note: There has been some market chatter that emerging market central banks such as China may follow India central bank and diversify their FX reserves into gold. China central bank's gold holdings are seen at about 2% of its total reserves
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makes sense since they plan on stacking up in the next few years. they made a smiliar call on real estate about a month ago, it only seemed to have a temporary effect on the market.
 
Sour Grapes.

India bought gold which gained 15% in a month, the Chinese decision makers apparently missed the boat, he is one of them who decided to invest in BSC, BX last year.

The Chinese government is holding Trillion dollars worth of paper money printed by paper tiger.

WOW!
 
Yeah I know if i had trillions of worthless dollars that i needed to unload into real money, i would be talking all kinds of crap about gold being a bubble so i could pick it up cheaper.

When you are a country, and you start buying gold at market prices it isnt long before everyone jumps out of their paper money to buy gold too. You have to have this kind of chatter so you can slowly buy up gold without the whole world falling apart.
 
Yep, China plays the game well. Issue a bubble report on gold and try to push gold lower so they can buy more.

You have not seen anything yet, wait til the Bombing of IRAN begins. Not the US but Israel as the sacrifice lamb, backed by the EU. Obama is a fucking idiot and will not call for support of such until, his EU buddies are all in.

If that happens...Gold, OIL through the roof.

The geo-politcal front is the focus as Iran reports its near weapons grade plat.

On top of that, wait till inflation and see where gold heads. Oil and Gold have priced in a Inflationary move on the behalf of the EU banks and the Fed. However, nobody knows how much inflation is coming down the turn. So, plenty of room to the upside for Hard Assets IMHO.
 
WSJ reported a few weeks ago among the central banks BRIC is holding the least amount of gold, American is holding the most. Go figure
 
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