Chinese Investors attracted to High purity Gold

The Chinese Authorities have released the first national standards on "high pure gold," a move that is likely to boost the country's gold consumption."High pure gold," as it is called in the standards, refers to the gold with purity of 99.999 percent, or "five nines," and is also the highest purity so far Generally speaking, a gold ornament with an amount of metal reaching 99 percent is called "pure gold," and more than 99 percent is called "thousand pure gold." Currently in the Chinese market, the highest purity level of a gold ornament usually reaches 99.99 percent, or "four nines." With the purity of 99.999 percent, the "high pure gold" used to be used in high-tech industry, such as aerospace. It requires a higher quality of the raw material and a more complicated technological craft. There's been no end to Chinese investors' appetite for gold in recent months. And now, an added lure - investors can buy not just 99.9 percent gold, but 99.999 percent - even purer than before. - source CCTV

Gold Spikes by More Than $30 and is expected to rally even more

Gold is expected to rally more than the $30 of this morning due to very bullish news coming out of Europe about the Greek's debt crisis but also Italy's credit grade downgrade this morning and the FED meeting where Ben Bernanke is expected to announce some new QE3 or similar " ...When I was on an hour, it was unbelievable that gold had not rallied more with the stark outlook for the U.S. and the European economy. some traders are saying they're also looking at headlines about the EU and IMF having to send officials to Athens to close the aid deal there and sources close to the troika saying that to wire services. will any of it be enough? that is what traders on the floor are mentioning. The downgrading of Italy's credit rating rating perhaps even more troubling than the Greek situation and then the FED meeting to watch and we are looking at gold prices back here at 1810 level and it is still down more than 100 bucks from the all-time high we saw just a week ago " says Sharon Epperson

Bob Chapman - The Liberty Round Table Radio - 19 Sept 2011

Bob Chapman : The Job creation legislation is not going to create any jobs , they want to move that money that they will cut from social security and medicare over to this jobs program , because they know that taxing the rich will never get through because the republicans will never let it go through and so they'll make a deal on the rest of it and screw the people like me who have spent their whole lives paying into social security