Gold- China is building a floor under gold prices... much higher than anyone expects

Thursday, May 24, 2012




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China is building a floor under gold prices... much higher than anyone expects

Tuesday, August 31, 2010
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From OilPrice.com:

Gold bugs and naysayers alike take note. When the world's second largest and fastest growing economy liberalizes gold ownership by individuals, who happened to be the planet's most fastidious savers at a 17% rate, you better pay attention.

Among other reforms, the Middle Kingdom is repealing the death penalty for the illegal importation of the yellow metal. The potential demand this will unleash boggles the mind. China historically has been a hard currency culture, and only started using paper banknotes when they were forced upon them as a way to repay debts by foreign colonial powers in the late 19th century.

But the Chinese desire to own gold and silver never went away...

Read full article...

More on China and gold:

China could be lying about gold

Why China isn't buying IMF gold...

How China's GIANT gold accumulation plan works

Topics:		Gold \| China \| Commodities

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