Lind-Waldock Strategist Phil Streible discusses the metals futures markets. Topics covered: Auto data could impact the palladium market; Watch the S&P 500 and the Currencies.Gold and Silver under Pressure 04 January 2011
Tuesday, January 4, 2011
Chinese swapping yuan paper notes for physical gold bars
Chinese TV has been giving extensive coverage to the rush of Chinese investors buying physical bars of gold they are now the biggest gold purchasers in the world. If savvy Chinese investors sense their economy is slowing down, it probably is.
Another reason is the property market. Housing speculators from southeastern China are switching their money from property into gold following government restrictions on the real estate market
Another reason is the property market. Housing speculators from southeastern China are switching their money from property into gold following government restrictions on the real estate market
China encouraging citizens to buy Silver and Gold
This broadcast is dated September 2009, nothing new but something to seriously ponder over. Silver price is poise to rise dramatically. Why?
Prior year 2002, the private ownership of gold was prohibited in China but since early 2009, the Chinese government has been promoting aggressively the ownership of silver and gold to its citizens through China's Central Television, the main state-owned television company. Locals can buy silver bullion or gold bars at any Chinese bank in four different sizes
Why is the government doing this? What is their agenda?
Ponder over this -
The global annual mine production for silver stands at 860 million ounces. Population of China is 1.3 Billion. Even if half, 650 million, were to buy a minimum of one ounce every month, that is enough to cause a price increase. If the Chinese citizens are indeed beginning to buy gold and silver, then this has to be a strong indication that prices are going to rise dramatically in the relatively near future.
China is the only country in the world now that promotes gold and silver to their citizens.
If the Chinese are buying silver it means silvers worth buying. The Chinese citizens are big savers who save a big % of their salaries. Now they're allowed to buy silver the investments they make will be enormousthe government is pushing silver and gold as wise investment vehicles for the Chinese worker. The #1 reason why silver will reach a triple digit spot price is the China factor.....
Prior year 2002, the private ownership of gold was prohibited in China but since early 2009, the Chinese government has been promoting aggressively the ownership of silver and gold to its citizens through China's Central Television, the main state-owned television company. Locals can buy silver bullion or gold bars at any Chinese bank in four different sizes
Why is the government doing this? What is their agenda?
Ponder over this -
The global annual mine production for silver stands at 860 million ounces. Population of China is 1.3 Billion. Even if half, 650 million, were to buy a minimum of one ounce every month, that is enough to cause a price increase. If the Chinese citizens are indeed beginning to buy gold and silver, then this has to be a strong indication that prices are going to rise dramatically in the relatively near future.
China is the only country in the world now that promotes gold and silver to their citizens.
If the Chinese are buying silver it means silvers worth buying. The Chinese citizens are big savers who save a big % of their salaries. Now they're allowed to buy silver the investments they make will be enormousthe government is pushing silver and gold as wise investment vehicles for the Chinese worker. The #1 reason why silver will reach a triple digit spot price is the China factor.....
Subscribe to:
Posts (Atom)
