Tag: gold in china

Gold Prices Driven Higher by Europe and China

Preserving wealth in a volatile political and financial world is a job for gold. Greg Weldon, publisher of Weldon’s Money Monitornewsletter and Grant Williams, a portfolio advisor at Vulpes Investment Management in Singapore, will share their insights at the Cambridge House California Investment Conference Feb. 11–12. In this exclusive interview with The Gold Report, they answer the question: How low and high can gold go? The Gold Report: Recent headlines continue to focus on the debt crisis in Europe as more countries are having their debt downgraded. Greg, you have diagnosed the problem as credit addiction and said that the European Union won’t be able to recover until leaders take painful measures necessary to […]

Continue Reading

Will China Continue to Buy Gold?

| February 8, 2012 | Articles: Insights
Will China Continue to Buy Gold?

“Nobody rings a bell at the top or bottom of a market,” the old saying goes. Yet anyone reading about the veritable stampede to Buy Gold during last month’s Chinese New Year celebrations might have heard a faint ringing in their ears, writes Ben Traynor at BullionVault. Here are a few quotations from various press sources: “Some customers just walk in and buy a bunch of 100g gold bars all at once…Companies come in too to Buy Gold bars for presents.” – branch manager, Industrial and Commercial Bank of China. “Some companies are giving out gold instead of cash to their employees” –Jia Zhihong, jeweler, Wuhan. “With customers crowding and rushing in, we did not even have time […]

Continue Reading

Gold Bullion Headed for Biggest Monthly Gain this Century

Gold Bullion prices were headed for their biggest calendar month gain this century by Tuesday lunchtime in London. Gold Prices hit $1745 per ounce – just shy of 14% higher than the Dollar Gold Bullion price set at the last London Fix of 2011. By this measure, January 2012 looked set to record the fourth-largest calendar month gain in the last three decades, and the biggest since September 1999, the month that saw the signing of the Central Bank Gold Agreement, which limited the sales of Gold Bullion by signatory central banks. Stocks and commodities also gained Tuesday, while government bond prices dipped. “In overnight trade in Asia, we continued […]

Continue Reading

Currency Wars hotting up

Gold and silver prices paused for breath yesterday following their price breakouts last week. Gold for April delivery at the New York Comex settled down 0.1% at $1,734.40 per troy ounce, while silver …

Continue Reading

Chinese are buying Gold “like cheap cabbage”

The wholesale market cost of Buying Gold rose to $1728 per ounce Monday morning in London – down slightly on last week’s close – while stocks, commodities and the Euro all fell and government bond prices gained as European leaders met for their latest summit in Brussels. The cost of Buying Silver fell to $33.08 at one point – a 2.6% drop from where it ended last week. Gold fell as low as $1718 per ounce Monday morning, dropping steadily during Asian trading, though this represented a loss of only 1% on Friday’s closing price. “Everybody seemed to be expecting profit taking out of Shanghai after the two Chinese bourses came back online,” said […]

Continue Reading

Gold is money?! Indians to pay for Iranian oil with gold

Markets enjoyed another “risk on” day yesterday, with stock markets and commodities all recording gains on the back of a weakening US dollar. The Dollar Index fell below 80, with the gold price also benefiting from increasing brinkmanship between Iran and western nations, with the European Union announcing the implementation of an embargo on Iranian crude oil. Comex gold futures for February delivery gained 0.9% to settle at $1,678.30 per troy ounce. Silver for delivery in March gained 1.9% to settle at $32.27 per troy ounce – another solid day for the white metal, though it keeps banging up against selling resistance around $32.50. Greece is once again the topic […]

Continue Reading