China opens borders to gold import

Discussion in 'General Precious Metals Discussion' started by GOLD1, Apr 19, 2021.

  1. GOLD1

    GOLD1 Well-Known Member

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    GOLD1, Apr 19, 2021
    #1
  2. heartastack

    heartastack Well-Known Member Silver Stacker

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    Great news, fully priced into gold’s $2 uptick today :rolleyes:
     
    heartastack, Apr 19, 2021
    #2
    mmm....shiney! likes this.
  3. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    ^^^
    Wait until they start buying up all the gold paper futures contracts, that's when the gold price will take off.
     
    hardyakkagold, Apr 19, 2021
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    heartastack likes this.
  4. VinceT

    VinceT New Member

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    Great news. I have already bought some.
     
    VinceT, Apr 23, 2021
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  5. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    I dont understand the article.
    China never stopped importing gold, they only stopped EXPORTING it.
     
    JohnnyBravo300, Apr 23, 2021
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  6. VinceT

    VinceT New Member

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    China's Central Bank controls the influx of gold into the country. In 2019, the Central Bank stopped that influx; my guess is that it was concerned about the diminishing foreign currency reserve at that time. Now, it lifts the ban, encouraging commercial banks buying precious metals. Good news for hoarders as the demand for gold and silver is going up.
     
    VinceT, Apr 24, 2021
    #6
  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Gotcha thanks.
     
    JohnnyBravo300, Apr 24, 2021
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