10,000 Chinese Queue for Gold!

Discussion in 'Gold' started by House, Jun 14, 2013.

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  1. House

    House Well-Known Member Silver Stacker

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    [​IMG]
    [​IMG]
    ZH


    The graph below of physical gold delivery out of the Shanghai Gold Exchange (SGE) vaults based on the weekly reports from the Chinese portion of the SGE site. The SGE has confirmed these are deriveries from the vault and the numbers are updated on a weekly basis (each Friday).
    [​IMG]
    Goldminerplus
     
    House, Jun 14, 2013
    #1
  2. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Me love gold long line
     
    Caput Lupinum, Jun 14, 2013
    #2
  3. goldpelican

    goldpelican Administrator Staff Member

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    That does not look like 1,000 people let alone 10,000.
     
    goldpelican, Jun 15, 2013
    #3
  4. renovator

    renovator Well-Known Member

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    The other 9000 are around the corner & up the street all the way to the atm machine
     
    renovator, Jun 15, 2013
    #4
  5. Ag47

    Ag47 Active Member Silver Stacker

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    This was in response to a shop promotion - 14%-19% discount. There were no similar queues in other shops.

    http://usa.chinadaily.com.cn/china/2013-06/12/content_16611576.htm

    The shop promotion was something that Zero Hedge (and other similar websites) conveniently forgot to mention in their articles - http://www.zerohedge.com/news/2013-...ina-ten-thousand-people-waiting-line-buy-gold

    It's a bit like one of their other stories claiming the US mint resumed seling 1/10 oz gold eagles at a massive 40% premium but were actually referencing the prices of the proof versions, which always had that premium.

    http://www.zerohedge.com/news/2013-...ng-one-tenth-ounce-gold-coins-40-premium-spot


    I like Zero Hedge but sometimes they skew (or omit) the facts a bit
     
    Ag47, Jun 15, 2013
    #5
  6. hiho

    hiho Active Member Silver Stacker

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    I am calling BS on this
     
    hiho, Jun 15, 2013
    #6
  7. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Clawhammer, Jun 15, 2013
    #7
  8. House

    House Well-Known Member Silver Stacker

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    Even if they did omit or forget to add in the promotion part just for sensationalism, it still shows the insatiable demand they have for gold when it's discounted. I don't think anywhere near that number would queue for gold in the Western world if those discounts were applied.

    The pic for the 1/10oz AGE in the article clearly showed that it was a proof and the readers picked up on that straight away anyway.

    I might just start posting KWN stories from now on just to wind you up :p
     
    House, Jun 15, 2013
    #8
  9. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Or this kind of insightful rage


    [youtube]http://www.youtube.com/watch?v=216PTpcDDlw[/youtube]
     
    Caput Lupinum, Jun 15, 2013
    #9
  10. Austacker

    Austacker Active Member

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    Spelt how it is said with a Chinese accent...

    Have not seen a queue like that for ANY bullion sale or release in Australia. Even an ANDA show a few hundred, the great Dragon release of 2011 was at most 50-100 people. We perhaps don't see the demand like the rest of the world.

    Makes me even more confident in the long term potential.
     
    Austacker, Jun 15, 2013
    #10
  11. ironwood

    ironwood Active Member Silver Stacker

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    I don't think anywhere near that number would queue for gold in the Western world if those discounts were applied. It would have to be for a pair of air jordan sneakers or a beiber concert.
     
    ironwood, Jun 15, 2013
    #11
  12. House

    House Well-Known Member Silver Stacker

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    and all the way to the Great Wall...
    [​IMG]
     
    House, Jun 15, 2013
    #12
  13. willrocks

    willrocks Well-Known Member Silver Stacker

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    They'd probably get 10,000 turn up for free lollypops. It's China, there's 1.3 billion people there.
     
    willrocks, Jun 15, 2013
    #13
  14. Altima

    Altima Well-Known Member Silver Stacker

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    Altima, Jun 15, 2013
    #14
  15. markcoinoz

    markcoinoz Well-Known Member Silver Stacker

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    Even our PM was waiting in the queue.

    [​IMG]
     
    markcoinoz, Jun 15, 2013
    #15
  16. Acorn

    Acorn Well-Known Member

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    Acorn, Jun 15, 2013
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  17. alexisio

    alexisio New Member Silver Stacker

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    Thought i seen Yennus in the crowd!
     
    alexisio, Jun 15, 2013
    #17
  18. Pirocco

    Pirocco Well-Known Member

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    The simple statement though is that Zerohedge is a spreader of scams, and after also seeing a sufficient high amount of occasions, I concluded the same.
    And where in user Ag47's post did you see signs of 'winding up'? I don't. Does the presence of a 'correcting' post suffice for you? :p
    Maybe you should start posting more KWN stories. Could result in a nice overview of the misleading going on. :D
     
    Pirocco, Jun 16, 2013
    #18
  19. yennus

    yennus Well-Known Member Silver Stacker

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    Had I known about it, I might have made some moves to be there! :)
     
    yennus, Jun 16, 2013
    #19
  20. roscoebuddy

    roscoebuddy Member Silver Stacker

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    roscoebuddy, Jun 16, 2013
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