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Gold

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    Gold

    http://www.telegraph.co.uk/finance/c...-reserves.html

    China announced this year that it had quietly doubled its gold reserves to 1,054 tonnes, the world’s fifth largest holding. India has also joined the rush, gobbling up half the IMF’s gold sale.

    News that the rising powers of Asia are shifting a chunk of their fast-growing reserves into gold in a flight from Western paper currencies has emboldened investors to take out large gold bets on the futures markets or through exchange traded funds (EFT), leading to the parabolic rise in price over recent weeks.

    However, officials in Beijing are aware that China’s $2.3 trillion reserves are now so enormous that the central bank cannot buy much gold without distorting the price, so they have adopted a de facto policy of buying in a calibrated fashion each time prices fall back to their rising trend line – “buying the dips” in trading parlance. Experts say that China is putting a floor under the gold price but does not chase rallies once they are under way.


    Where Prawn leads, China follows.


    #2
    Originally posted by DimPrawn View Post
    ... the rising powers of Asia are shifting a chunk of their fast-growing hand-outs from western taxpayers, especialy from Britain, into gold ...
    How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

    Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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    "We hang the petty thieves and appoint the great ones to high office" - Aesop

    Comment


      #3
      Always believe in your soul.

      Comment


        #4
        Originally posted by moorfield View Post
        Always believe in your soul.
        And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

        Comment


          #5
          Originally posted by DimPrawn View Post

          Where Plawn leads, China follows.

          Edited for dialect
          Older and ...well, just older!!

          Comment


            #6
            Gold has dipped in sterling if anyone is interested. Just bought another £10K worth, awaiting further bigger falls.

            Comment


              #7
              I have a bad feeling about this......
              Who has time? Who has time? But then if we do not ever take time, how can we ever have time?

              Comment


                #8
                Everytime there's a bit of "good news", gold will fall.

                The truth is most of the western world is ****ed. See every dip as an opportunity.

                Trust me, I'm a computer programmer, I know these things.

                Comment


                  #9
                  DP, do you walk out of the bank with your gold and bury it in the garden?

                  If you leave it in the bank, there's every chance the Government will nationalise it, just as President Roosevelt did during the depresion in the US.

                  Article here
                  Work in the public sector? Read the IR35 FAQ here

                  Comment


                    #10
                    Originally posted by OwlHoot View Post
                    DP, do you walk out of the bank with your gold and bury it in the garden?

                    If you leave it in the bank, there's every chance the Government will nationalise it, just as President Roosevelt did during the depresion in the US.

                    Article here
                    I trust our government not to take other peoples wealth in the name of "fairness".

                    Comment

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