Why is everyone bashing gold now days? I dont get it.. why would multiple governments buy gold if it was not worth it? Forget about what people say on youtube or on the web.. I mean seriously just the information about china, Russia and India buying gold should make you buy more gold or hold the gold you have now.. there must be a reason why these country's are buying record number tonnes of gold, (A) it is not true and just another lie from bullion retail people or (B) the tens of thousands of employee's that work for the government dont know what there doing..
country A sells to country B......that's it. One doesn't want it and one does.....perfectly balanced trade....as much hope as despair.....one positive, one negative... It will need a lot more than this for gold to break to the upside. gold will only move up when there are more buyers than sellers.
Are you sure country A doesn't want the gold? It's more likely that country B doesn't want any more of county A's currency. If that's the case what happens when country A runs out of gold? Also I'm not so sure it's "perfectly balanced" when country B is doing all the buying, and county A all the selling. Perfectly balanced trade should suggest the gold goes back and forth, not one way.
If you go looking for reasons to justify buying gold then you will find them. And if you go looking for reasons not to buy gold, you will find them. However, if you want to maximise the amount of gold you can buy, you need to discard any emotional attachment to a particular viewpoint and stop looking for reasons to justify it.
If you bash gold you get to buy gold cheaper. So it would make sense for the buyers to bash gold. Hence the reason why Jim Rickards thinks it's China that's manipulating the gold price.
No, if you bash gold it simply changes shape because it is malleable. malleable/malb()l/ adjective (of a metal or other material) able to be hammered or pressed into shape without breaking or cracking. I am afraid the same cannot be said about gold investors however. There is some serious breaking and cracking going on as we speak....
what he meant might be, China is paying for it to make sure they see lower prices are being put in place, since the service cost for such fix is much cheaper. as panic sellers thrown in the towel. we can imagine naked traders running around :lol:
I get that but why is china buying so much gold is what im trying to understand, it's odd that they wont tell the world how much gold they have for 5 years now and also spending a decent amount on ad's telling the chinese people to load up on gold/silver.
If they have 1000 tonnes, in terms of its value in comparison to their holdings of u.s. bonds.....it would only be a few percent. It is a lot to us of course. as much as we hear about the push for the return to gold as a currency, the reality is that the new generation don't think that way and they are the guide to the future. It will be near impossible to stop the transition to electronic money.
