China opens borders to gold import

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

  1. GOLD1

    GOLD1 Member

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  2. heartastack

    heartastack Well-Known Member Silver Stacker

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    Great news, fully priced into gold’s $2 uptick today :rolleyes:
     
    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.
     
    heartastack likes this.
  4. VinceT

    VinceT New Member

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    Great news. I have already bought some.
     
  5. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I dont understand the article.
    China never stopped importing gold, they only stopped EXPORTING it.
     
  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.
     
  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Gotcha thanks.
     

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