China Commercial Bank holdings.

masmas said:
So what would happens to the Gold price when the Chinese economy enter into recession or no longer in the accumulating Gold phase anymore ?
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Depends on how bad it gets for both Chinese central bank and Chinese people

Central bank has $3.1 Trillion US dollars in reserve -> its a lot of money.

Chinese people - depends how desperate they get and the desperation is wide ranging just like it would be in Australia. ie an indebted person who lost their job much likely to sell while the better off might but stay at status quo? Another big unknown is is the currency peg, with a peg there will be no reason to buy more gold if you a joe blog citizen, unless there is rumour that Central bank is going to lower it currency.
 
China will stop buying gold when there is none available.

If it goes to $2000+ and oz, they will still buy! If needed they will sell US Treasuries to do it.

JMO


OC
 
Old Codger said:
China will stop buying gold when there is none available.

If it goes to $2000+ and oz, they will still buy! If needed they will sell US Treasuries to do it.

JMO


OC
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But what does that have to do with ordinary Chinese citizen. Do you think it is the Chinese government giving people gold or the chinese citizen buying gold for them self.

How many Chinese citizens buy US treasuries?
 
The Chinese government buys gold by the ton, the citizens buy it by the ounce. They probably use it as retirement savings.

Two different leagues.

Not sure about Treasuries, I doubt a private citizen buys them, though they can I think.

OC
 
I have seen a video of a gold selling retail outlet in China packed with maybe 300/400 customers all in a frenzy buying spree.

Regards Errol 43
 
There are millions of Chinese buying gold for themselves and family. Unlike Australia buying gold for future prosperity is normal in East Asian culture.

I would say there are many 100s of tons being bought by the ordinary Chinese in a year.

If every Chinese girl bought one small tiny 9K earring and tiny thin 9k ring that weighed 1gram AGW - this equal 700 tonnes a year in gold.

Of course not every one of 700 million females are buying 1gram of gold a year, but I think it would even out to be much more as those that are buying are buying much more than 1gram a year.

This is not including what people buying for nest egg and for gifts - gift giving of gold for new born babies is big tradition.
 
Hm.... that does make sense IPv6.
I've read somewhere in the news article that China and India economy is getting better, hence they most likely to have bigger appetite to buy more gold.
 
"Australians are the largest single owners of residential homes in New York too, did know that?"


My bet is that in BOTH areas of ownership, China is right up there with Japan etc. Australia would be well down the list. The ABC refers to ONE entity that happens to be Australian, that owns property in NYC.

JMO


OC
 
Old Codger said:
"Australians are the largest single owners of residential homes in New York too, did know that?"


My bet is that in BOTH areas of ownership, China is right up there with Japan etc. Australia would be well down the list. The ABC refers to ONE entity that happens to be Australian, that owns property in NYC.

JMO


OC
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Single owner meant one owner. Likely my use of the term didn't help, they now own 1400 properties, homes.
Masters fund have streets where they practically own whole street of houses lol.
 
I have in-laws that went over to NY State in about he same time, 2011, and bought 9 properties in a few days.

Fixed them up and are now in the process of selling them. They are valued FAR above the initial capex.

OC
 
Actually if we found out that a Chinese fund owned 1400 lower north shore houses and apartments what would the news articles be like.
It would go nuts. Not that there are as many Asians that live here in north Sydney compared to Chatswood.
 
Old Codger said:
.......so they send 1400 peace loving Chinese over to buy one each!

OC
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That's hard to verify lol, I mean openly like. Via a fund. I can see people going into a meltdown over it. Since it could drive prices up.
But to a person that owned a owned a property in north Sydney not that bad as the prices are going up.
 
Old Codger said:
I have in-laws that went over to NY State in about he same time, 2011, and bought 9 properties in a few days.

Fixed them up and are now in the process of selling them. They are valued FAR above the initial capex.

OC
Click to expand...


That would be a great earner, just the currency movement would have made it a safe bet.
Presume near parity or better currency when buying depressed US houses.

Though we were bombarded by pictures of desolate Detroit slum but there were good areas all over USA with jobs with good transport all over US that took a nose dive with the rest.
 
Ipv6Ready said:
Old Codger said:
Interesting!

Thought my BS Detector had gone off!


https://brevitas.com/who-are-nycs-biggest-foreign-investors/


OC
Click to expand...
That's commercial properties we are talking about homes. They are up to 1400 homes now, and this is just one of them

http://www.usmastersresidential.com.au/

http://www.abc.net.au/news/2014-12-04/australian-property-investor-buys-up-big-in-new-york/5945168
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Yes, and don't forget Steve McKnight

http://www.passiveincomefund.com/property-profiles-page/
http://www.passiveincomefund.com/management-team/

He is one of the most famous investor in anything property be it in Australia or in USA.

and last one is Todd Hunter the buyers agent: http://www.wheregroup.com.au/house-e-cards/
 
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