What Chinese Consumers Are Rushing To Buy This Christmas
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While the US consumer is rushing to spend what little savings they have left and grab that last for 2013 "X% off" deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products. Only, unlike in the US, the object of China's affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.
Gold price lower and lower end of the Christmas rush of people buying
Taiyuan a gold shop gold prices as low as 287 yuan / gram, people flocked buying gold jewelry. Western Christmas in China has gradually become the "Consumer Day", much of the gold market on this day after discounts, plus the price of gold hovering cheap Christmas discounts, and more gold has broken 300 yuan / gram mark. http://www.zerohedge.com/news/2013-12-26/what-chinese-consumers-are-rushing-buy-christmas
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
The paper price? Probably because 99% of all the gold traded on the planet is paper gold, and if you can manipulate that market to your profit what do you care about what happen to the other 1%
Just trade paper, at least until the paper system crashes.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
"By far, the two largest consuming countries are India and China."
India consumed 864 tonnes of gold used for jewellery, bars and coins in 2012, China consumed 784 tonnes, the United States 162 tonnes, Turkey 110 tonnes, and Thailand 81 tonnes.
India and China accounted for more than half of global jewellery fabrication and final consumption at retail level.
I don't how extensive the Indian import ban, but normally they consume a big chunk of the world production. Indian currency is notoriously bad, so a lot of jewelery in India must be hording as a form of savings.
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Dec 16, 2013 - The inflation rate in India was recorded at 7.52 percent in November of 2013.
Both the Reserve Bank of India (RBI) and the government have taken a slew of measures to curb gold imports to narrow the CAD to $70 billion or 3.7 per cent of GDP this fiscal.
Gold imports touched a high of 162.4 tonnes in May and fell to 7.2 tonnes in September.
The government expects gold imports to come down to 800 tonnes this fiscal.
Milton Friedman's idea was to limit visible inflation to 3% pa (the reality being more 5.5%). The theory is this is the case where the frog gets slowly boiled without leaping out the pot. This seems to have been the method adopt by Basel.
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
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