Tuesday, May 18, 2010

Gold rush in China is pushing the Gold price to all times high

Chinese love GOLD


May 18, 2010China is now the number one consumer of Gold , and it is not just consumers , the central bank of china is quietly building up its reserves moving away from Euros and Dollars into hard assets like Gold ...and to meet this demand for gold China is opening new mines every month to the point that China now eclipsed south africa as the gold's first producer , Smart Chinese buying gold and dumping FIAT at rapid rates....

I guess they see currencies are only headed one way...DOWN!


Charts: Euro to Fall Toward $1.15

The euro is set to continue its recent declines against the dollar and will fall to between $1.18 and $1.15, Roelof van den Akker from ING Commercial Banking told CNBC Tuesday.












OPEC Will Defend Oil at Mid-$60s

OPEC is likely to intervene to stop oil prices from falling to the mid-$60s, believes John Licata, chief commodity strategist at Blue Phoenix and editor of the Commodity Chronicles. He talks commodities, with guest host, Tony Morriss of ANZ, CNBC\'s Oriel Morrison & Sri Jegarajah.












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