(and perhaps £s too) and stick it all on gold?
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Time to abandon dollars?
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Originally posted by TimberWolf View Post(and perhaps £s too) and stick it all on gold?Knock first as I might be balancing my chakras. -
Originally posted by TimberWolf View Post(and perhaps £s too) and stick it all on gold?Comment
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Originally posted by suityou01 View PostAny particular reason? Links?Comment
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Originally posted by TykeMerc View PostWhat currency is gold typically bought and sold in?
HTH
SASGuruKnock first as I might be balancing my chakras.Comment
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Originally posted by TykeMerc View PostWhat currency is gold typically bought and sold in?
"The more the market becomes concerned about inflation or concerns about unrest in Africa, more and more people will look to Buy Gold," reckons UBS global commodities strategist Peter Hickson, claiming that Gold Bullion sales to China topped 200 tonnes in the first two months of this year.
China's total private purchases in 2010 reached a record 580 tonnes, according to London's GFMS consultancy.
"Chinese interest is huge," agrees Bank of Nova Scotia's head of precious metals in Hong Kong, Peter Tse, saying that "Demand for physical gold and imports increased substantially" in the run-up to last month's Chinese New Year celebrations – a traditional season for gift-giving and 'auspicious' investment.
Inflation & Oil Risks "Driving People to Buy Gold" as Chinese Demand Jumps, Global Silver Investment Swells 2.5% Week-on-Week | Gold NewsComment
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Originally posted by TimberWolf View PostTime to abandon dollars?
And do tell me where you left them...Comment
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Well, unless we are facing global meltdown a la 1930s I think it's a bit of a bubble. There might be some further short term gain but it will all unwind once the real world starts getting normal again.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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The reason could be that the Chinese central bank will now conduct all transactions in Yuan and not in Dollar. Last week in the US they discovered that China holds a lot more dollars than they thought. Apparently China is now the biggest creditor, in the US because the purchases were in London they'd previously been attributed to the European Union. So it looks like, after all the protectionist blustering over the last few months in the US, China is enjoying "tweaking" their nose a bit.Last edited by BlasterBates; 3 March 2011, 08:04.I'm alright JackComment
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