“Today’s gold market is being defined by two trends: aggressive selling by investors in North America through exchange-traded funds, and aggressive buying by consumers in Asia. But for now, the ETF investors are overwhelming everyone else. Gold prices settled below US$1,390 an ounce on Thursday, and after five rough trading days in a row, they are approaching the lows that were reached during last month’s dramatic collapse. Chinese gold imports have been going through the roof. Data released last week showed that China imported 223.5 tonnes (or 7.9 million ounces) from Hong Kong in March, crushing the previous monthly record.”
Related posts:
Private Investor and Trader Joe Lewis Not Backing Bitcoin Ventures, Contra WSJ
San Francisco's Dumb Ban on Bottled Water
Why Obama Can't Just Uncancel All Those Insurance Plans
Goldman Has a New Product to Bet on the Next Banking Crisis
Russians prepare to quit Cyprus; Northern European bankers descend
Thousands of armed protestors gather at state capitols in pro-assault rifle rallies across the count...
Afghan government says NATO-led military operation ‘aimless and unwise’
Germany Plans to Deploy Armed Drones
The secret history of drones
U.S. offers help to Nigeria to fight terror group
FDA's New War On Imodium Was Supposedly Prompted By Two (2) Deaths
Convicted Italian earthquake scientists resign over L'Aquila quake verdicts
Beijing to back United States over new FATCA law against tax evasion
Scientists cook world’s first lab-grown, in-vitro hamburger
Spain risks break-up as Mariano Rajoy stirs Catalan fury