Despite the prodigious amount of gold China produces and imports to serve local demand, what is coming to light this week is the significant amount of gold the People’s Bank of China has stealthily accumulated.
The Gold Miner's crystal ball proved accurate this week. Essentially, the end results of the Feds QE game are known. We just don’t know how much longer it will or can be played. In the meantime, take some advice from the wise Chinese.
China has announced plans to further liberalize gold imports and exports allowing a larger number of traders to enter the market. It sounds to us like China anticipates that the current level of unprecedented gold demand and imports is becoming the new normal.
From "fiscal cliffs" to “QE" and "taper talk”, and now the "debt ceiling" debate, can anyone take the US Government seriously when it comes to budgetary and monetary policy? No matter what they call it, the result is always the same.
The Indian government finally succeeded in stifling gold imports in August after several months of trying. They probably shouldn’t pop the cork on the victory Champaign just yet though as one month does not necessarily constitute a trend. What are the implications?