“Setting a record” doesn’t begin to do the story justice.
The Hong Kong Census and Statistics Department is out with its monthly figures on China’s gold imports via Hong Kong. The Chinese government is notoriously secretive about its total imports, so the Hong Kong figures are the best we have to go on.
The March number is 223.5 metric tons — literally off the charts…
“This is quite out of expectation, as all these imports were done before the market slump in April,” a trader at the Bank of China tells Bloomberg.
Which means the April number will likely confound our resident chartmeisters even more. “Judging from the explosive growth of trading volume on the Shanghai Gold Exchange in the second half of April, and anecdotes that many jewelry shops are sold out throughout the country,” the Bank of China trader adds, “imports might be even more substantial in April.”
Buying at this pace is bound to move even the “paper price” of gold, to say nothing of real metal. Imagine what might happen when the People’s Bank of China gets around to announcing its official reserves again. Which could be any day now, seeing as it hasn’t done so in more than four years.
While investors fretted over earnings and rumors about Bernanke’s potential replacements, gold snuck higher. In fact, gold actually outperformed all of the major stock indexes in July. I doubt many people even noticed. Did you?
Dave Gonigam has been managing editor of The 5 Min. Forecast since September 2010. Before joining the research and writing team at Agora Financial in 2007, he worked for 20 years as an Emmy award-winning television news producer.
Interesting world we inhabit.
Alleged Communists are gold bugs.
Alleged capitalists are Keynesian socialists.
Let me tell you now is the time. Gold will never be cheaper, and soon may be unattainable. China is prepping for a trade war with the US and the world is really not on our side in this. They are tired of Obama and the copy machine printing money…they will end it for us and we will not like what happens. I bought a piece of gold ten years ago and it is worth more than 500% more than then. What are you making in interest?
So what does this mean? Have they totally lost faith in fiat currency or is there a different tactic?
Lots of naive investors thinking that gold was the smart investment, because gold’s prices NEVER come down – just like the real estate bubble. Throw in lots of fearful investors convinced that an economic apocalypse is coming. You bought gold at the beginning of the biggest bull market it’s EVER had.
Take a look at interest rates vs. gold prices and think about how long the Fed has had to hold interest rates at effectively negative (because of inflation). The correction is coming and it’s going to be huge.
Unlike paper money, gold will always be worth something.
Pingback: casino mit freispielen ohne einzahlung
Pingback: chloÃ« moretz
Pingback: pure garcinia cambogia extract side effects
Pingback: Mortgage Advice
Pingback: paintless dent repair training for pdr
Pingback: how to get rid of warts
Pingback: how to remove warts
Pingback: philippines medical tourism
Pingback: casino bonus senza deposito 2012
Pingback: polskie kasyno bonus bez depozytu
Pingback: como adelgazar
Pingback: Landscape Design
Pingback: portable barcode scanners
Pingback: check out here
Pingback: free smokeless cigarette
Pingback: pure green coffee bean extract
Pingback: selena gomez cirugia plastica
Pingback: Joshua Jacobi
Pingback: binary options brokers
Pingback: kim kardashian implants
Pingback: yeast infection
Pingback: recuperar a tu ex
Pingback: adriana lima cirugia
Pingback: find out here
Pingback: joshua a jacobi
Pingback: baggy eyelids
Pingback: get rid scars
Pingback: green coffee bean extract
Pingback: cascading failure
Pingback: mouse click on
Pingback: This Web page
Pingback: This Web-site
Pingback: please click the following website
Pingback: visit the following web page
Pingback: mouse click the following post
Pingback: Suggested Internet page
Pingback: article source
Pingback: Click That Link
Pingback: click through the following post
Pingback: Recommended Resource site
Pingback: click through the following page
Pingback: linked internet site
Pingback: Discover More Here
Pingback: visit the up coming document
Pingback: Highly recommended Online site
Pingback: click through the following article
Pingback: Clicking Here
Pingback: helpful resources
Pingback: internet site
Pingback: similar internet site
Pingback: Read the Full Posting
Pingback: Suggested Browsing
Pingback: resource for this article
Pingback: similar webpage
Pingback: visit the up coming post
Pingback: This Resource site
Pingback: visit the following post
Pingback: click the up coming website page
Pingback: relevant site
Pingback: click the following internet site
Pingback: please click the next webpage
Pingback: Read More
Pingback: simply click the up coming website
Pingback: Learn Additional Here
Pingback: linked web page
Pingback: simply click
Pingback: Full Content
Pingback: just click the next web page
Pingback: just click the up coming internet site
Pingback: Learn Alot more
Pingback: More Material
Pingback: Learn More Here
Pingback: Read More Here
Pingback: visit the following web site
Pingback: click the next internet site
Pingback: click the next website page
Pingback: Click On this website
Pingback: click the up coming site
Pingback: click through the up coming website
Pingback: just click the next article
Pingback: Suggested Internet site
Pingback: visit the next website page
Pingback: mouse click the next page
Pingback: simply click the following webpage
Pingback: visit the next page
Pingback: mouse click the up coming document
Pingback: Read More On this page
Pingback: Recommended Reading
Pingback: This Webpage
Pingback: This Web site
Pingback: Check This Out
Pingback: please click the following page
Pingback: Highly recommended Website
Pingback: simply click the up coming website page
Pingback: stay with me
Pingback: Suggested Reading
Pingback: Full Guide
Pingback: similar web page
Pingback: simply click the following internet site
Pingback: visit the following site
Pingback: visit the next web site
Pingback: lead generation
Pingback: hay day cheats
Pingback: Love Letters For Him
The world is obsessed with smartphones. Most people can't go ten minutes without checking their phone for status updates on Facebook or Twitter or any number of apps they happen to have. And while Facebook's stock continues to soar, it's only natural to wonder, "What's the best way to play this mobile revolution?" Greg Guenthner explains...
One of the most heated political battles raging across the western world is debt versus austerity. In the U.S. this debate reached it's apex in 2011 when the U.S. credit rating was downgraded by Standard and Poor's. In today's essay, however, Chris Mayer throws the debate out the window, explaining why he thinks a U.S. debt crisis will never happen...
Believe it or not, more capital for a company doesn't necessarily mean better returns for investors. In fact, in a recent study that dug through data from more than 200 acquisitions going back to 2006, they found a "sweet spot" for the most likely acquisition targets. And it's lower than you think. Matthew Milner explains...
The Affordable Care Act dumped 2,000 pages of regulations into the health care sector, stifling any innovation that could have brought about real cost savings. But even with these obstacles, there are still people looking for ways to do things better and at a lower cost. These new technologies could be the key to fixing health care in America...
While many of the newer social media stocks struggle for gains this year, old-school tech stocks have become some of the best trades on the market. With the rare exception (Facebook is doing well—shares are up 26% year-to-date) the social stocks are in the gutter. They got off to a fast start in January and Februray, but ran out of steam in the spring. Aside from a few feeble attempts, few have posted anything close to a noteworthy comeback. Twitter, LinkedIn, and Groupon are all down double-digits year-to-date. Groupon—the worst performer on this short list—is down 47%. On the other had, the biggest of the big tech stocks on the market are helping traders pile up even larger gains right now. Greg Guenthner explains…