Quote"What was amazing last week was the latest news on Chinese domestic gold demand. In a report by Bloomberg, according to Peter Hickson, the global commodities strategist for gold-focused Swiss Bank, UBS, Chinese gold demand was a staggering 200 tons in the first two months of this year! Only a couple of months ago reports showed that Chinese gold imports in the first 10 months of 2010 totalled 209 tons, itself a 500% increase on the previous year. It now seems that demand by individuals is reaching almost frightening levels. Not only is jewellery demand seen as being up by 70% year on year, but investment demand (coins and bars as opposed to jewellery, which has been the main outlet for gold purchases in the past) is also coming on strongly from virtually nothing a couple of years ago to a WGC estimate of close on 180 tonnes in 2010. If the pace of growth continues investment demand alone could reach as much as 300 tonnes in 2011! If the Chinese Central Bank is absorbing domestic production, as many believe then total Chinese demand this year could soar past India's. The potential is almost beyond belief. According to the report, there is evidence that China is positioning itself to make the yuan at least a part of any new reserve currency package which might replace the still-declining U.S. dollar in global trade. There is the strong suggestion that it needs to build its gold reserves as backing for this at least to levels approaching those of the biggest European Central Banks, which suggests a doubling of Chinese gold reserves at the very least in a relatively short space of time. " http://www.kitco.com/ind/Levenstein/mar072011.html
and if that is the case - just what event are we looking at that will force a new world currency. Remember that insiders were doing a record amount of stock sales barely a month or two ago. I think there's a black swan coverered in oil about to explode the world's reliance on dollars. But the thing about black swan's is I could be wrong.
Question - WHY is gold still the price it is today then. With a GSR of only 39 in play, and massive foreign demand for the yellow metal, I'm starting to think that there's a bigger manipulation story than the silver market being played out. Who's holding the gold price down and how?
WHY is gold still the price it is today then. Maybe everyone who manipulate currencies does'nt want gold to be valuable. If they are connected again you couldn't manipulate currencies.
