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Chinese rush to gold as inflation fears bite

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posted on Dec, 15 2010 @ 08:08 AM
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Chinese rush to gold as inflation fears bite


www.mineweb.co.za...


A report in the Financial Times suggests that gold purchasing by individuals is turning into such a rush - and the rising price, if anything, is - contrary to Indian experience - fuelling the intensity of gold demand there. With the ever-rising growth in the numbers of middle-income Chinese as the country's wealth drips down to the people, this source of gold demand is becoming increasingly relevant to the global market. China is expected to surpass India as the world's leading gold purchaser within the next few years and with the kind of surge in popularity of gold bars and coins, rather than jewellery, there this could even take place sooner rather than later.



"At Beijing's largest gold shop, the queues to buy bullion mini bars have turned into scrums as customers jostle for one of the country's hottest commodities. The phone behind the bullion counter rings off the hook as a frantic sales clerk tries to answer buyers' questions. The electronic chart displayed behind him says it all: the price of gold is rising and Chinese investors, worried about inflation, want in on the trend."



Maybe the Chinese are more sophisticated in economic theory than their Western counterparts, but the levels of new money being pushed into the Western (and Japanese) economies by government has to have severe inflationary consequences down the road. It's just the Western general population hasn't yet understood this consequential result. Give them time! In China inflation is already beginning to impact as the western stimuli are beginning to raise inflation in China rather than in their home countries - so far.




posted on Dec, 15 2010 @ 08:29 AM
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reply to post by wisdomnotemotion
 


Yeah, this is getting really exciting...hope you've got physical gold and silver people because the fix is soooon to be in


kingworldnews.com...$40_Million_in_Gold.html

kingworldnews.com...

kingworldnews.com...


I can't wait



posted on Dec, 15 2010 @ 08:33 AM
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reply to post by wisdomnotemotion
 


the Chinese central planners may well be fanning the 'inflation' flames for a sinister reason

its interesting that a communist controlled society would be allowed to hoard gold in the first place...


my guess is that there is a ongoing operation to bankrupt or completely displace the USA fiscal stranglehold of all the worlds markets and exchanges...'

they are pretty certain that the supposed 8,000 tonnes of sovereign Gold held in Vaults ranging from Ft Knox, West Point, NY FED, and possibly in the Denver airport catacombs...is in reality only a paltry stash of perhaps one tonne of the 'Asset' metal.
And the Chinese know that the USA/FED/Treas. will opt for certain policies which would only be put into place because of the lack of a sovereign Gold that 'backs' the USD.

theres a game of cat-&-mouse going on and i sure wish i could remove the cobwebs & fog so i can see just what will be the best way to invest and benefit...
i guess, my only choice is to keep buying $50-$100 per investment into my present gold fund...
but i'm sure that there are other strategies out there that would be more profitable, anyone willing to opine?



posted on Dec, 16 2010 @ 06:06 AM
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reply to post by St Udio
 


I agree. The problem now is that the real value of gold is much higher than what's being traded via ETFs or paper gold. The fact that gold is allowed to be contaminated by worthless US dollar and driving gold price down, is absolutely ridiculous. Gold should be based on investors/public demand, not hurt by some worthless currencies.

Gold demands in China and India are soaring non-stop but look at the gold price now - it's down to $1383/oz. It does not make sense. Those corrupted bankers are at it again!



posted on Dec, 29 2010 @ 11:08 AM
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China government just appreciated its Yuan as it found no other alternative to soothe the rampant inflation. Oil (now $91.10) is ready to drive everyone nuts again.



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