The Gold Correction Explained

Roger Wiegand explains what happened to the Gold prices recently and why we saw that 100 dollars corrections : ....well 3 things happened that fundamentally moved markets the last couple of days , the Swiss put a cap on their currency which is capital controls on money , I was very disappointed to see that and I can understand why they did it , the Swiss franc which was the go to currency is down , that makes it virtually untradable , that was one of my favorite currencies to trade , next thing was that the German Congress agrees to give cash to Greece and Portugal this means that Germany is going down to slippery slop , the selling in Gold today was just a normal profit taking the trend remains up , there is no problem with gold and silver

Bob Chapman : All the Gold Stocks are up today despite the attack on Gold

Bob Chapman - The Financial Survival 07 Sept 2011

Bob Chapman : it was not such a bad day today considering that All the Gold Stocks are up , Silver did not to collaborate much with JP Morgan today it was down only 15 cents , buy Gold it is going to go right back up again ,

Boom of The Gold Mining in China

World gold prices have soared recently amid financial fears. While you might expect this to mean more output, some Chinese mining firms have a different approach--working lower grade ore. (Tibetan: Yulshul) in Qinghai Province will likely become one of Asia’s largest goldmines, with proven reserves of 300 tonnes, in 2015, reported China’s official Xinhua news agency Aug 27, citing provincial land and resource officials. The report said the geological exploration was conducted jointly by Qinghai geology and mineral exploration and development bureau and a Canadian mining company with a total investment of 200 million yuan (US $31.3 million). Noting that Qinghai was endowed with rich mineral resources, the report said the proven gold reserves of the province's six mines, including Dachang, was 430 tonnes. The gold price is hovering near the $2,000 range, as global finance markets remain unstable. For many world mining operations, this has meant something of a golden age. The law of supply and demand dictates that as gold is worth more, there will be greater efforts to boost output and take advantage of the price conditions.


But things are different in the east Chinese city of Zhaoyuan. It's known as the country's gold capital for its abundant deposits. One small privately-owned gold mine here is estimated to produce some 350 kilograms of gold a year, out of 120 tons of gold ore explored every day. Production has stayed stable despite the recent price jumps—like some other Chinese gold mines, Zhaoyuan's are keeping output steady, by expanding operations into lower grade ore. [Hao Zengbao, Zhaoyuan Gold Administrator]: "This is a resource-type enterprise, as gold mines have their own limited service life spans, and mining exploration usually has to expand year by year, so as to make exploration and mining balanced."