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Gold is cutting a hole through the floor
Topic Started: 25 Nov 2013, 04:34 PM (5,552 Views)
peter fraser
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Gold prices
Link
Gold price $1212.80

Chinese investors are showing different attitudes toward investment in gold products and are more cautious than they were earlier this year, industry watchers said Tuesday, after international gold prices saw their most dramatic one-month decline in November since 1978.

"The number of gold bars sold in our store this weekend increased by at least 30 percent compared with the last weekend of October," Jiao

Guangyi, deputy general manager of Beijing Sun Gold Store, told the Global Times Tuesday.

Jiao said most of the buyers thought it was a good opportunity to buy gold products as the price had declined to a low level.

The domestic spot gold price, which fluctuates based on international gold prices, declined to 242 yuan ($39.71) per gram Tuesday, around 6 percent lower compared with the beginning of November.

Chinese investors were generally enthusiastic about buying gold earlier this year.

In April, for instance, prices for the precious metal saw an abrupt drop, prompting a buying spree.

Gold bars and gold accessories were sold out within a few days in department stores in cities like Beijing, Shanghai and Nanjing, according to local media reports in April, when the spot gold price declined to around 300 yuan per gram, nearly 10 percent lower than at the beginning of the year.

Affluent dama, middle-aged Chinese women, are seen as one of the major groups of buyers for gold products.

"I couldn't wait to buy gold as many of my colleagues and friends had already made their purchases," one consumer was quoted by Xinhua News Agency as saying in April.

However, many of these enthusiastic investors suffered losses as prices have dropped further since April.

"Their purchasing approach has become more cautious than before," Jiao noted.]Gold Price $1212.80[/URL]

Edited by peter fraser, 4 Dec 2013, 10:24 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Catweasel
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peter fraser
4 Dec 2013, 10:23 PM
Gold prices
Link
Gold price $1212.80

Chinese investors are showing different attitudes toward investment in gold products and are more cautious than they were earlier this year, industry watchers said Tuesday, after international gold prices saw their most dramatic one-month decline in November since 1978.

"The number of gold bars sold in our store this weekend increased by at least 30 percent compared with the last weekend of October," Jiao

Guangyi, deputy general manager of Beijing Sun Gold Store, told the Global Times Tuesday.

Jiao said most of the buyers thought it was a good opportunity to buy gold products as the price had declined to a low level.

The domestic spot gold price, which fluctuates based on international gold prices, declined to 242 yuan ($39.71) per gram Tuesday, around 6 percent lower compared with the beginning of November.

Chinese investors were generally enthusiastic about buying gold earlier this year.

In April, for instance, prices for the precious metal saw an abrupt drop, prompting a buying spree.

Gold bars and gold accessories were sold out within a few days in department stores in cities like Beijing, Shanghai and Nanjing, according to local media reports in April, when the spot gold price declined to around 300 yuan per gram, nearly 10 percent lower than at the beginning of the year.

Affluent dama, middle-aged Chinese women, are seen as one of the major groups of buyers for gold products.

"I couldn't wait to buy gold as many of my colleagues and friends had already made their purchases," one consumer was quoted by Xinhua News Agency as saying in April.

However, many of these enthusiastic investors suffered losses as prices have dropped further since April.

"Their purchasing approach has become more cautious than before," Jiao noted.]Gold Price $1212.80[/URL]

Catweasel say crikey.

Financial master of mouse,

a ANZ,

trade a gold futures to a Chinese,

and a selling a gold to Vietnamese,

in a "structured investment product",

but no peep out of mouse.

Like a lambs to a slaughter.
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goldbug
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Mice borrow capital from wealthy men to buy houses at interest, then wealthy men sell debt back to mice in form of RMBS (now bank bonds) and takes money and buys gold and oil with it. Who is smarter.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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Gold has staged a recovery to $1244.

It has survived for now.
Any expressed market opinion is my own and is not to be taken as financial advice
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Count du Monet
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peter fraser
5 Dec 2013, 08:14 AM
Gold has staged a recovery to $1244.

It has survived for now.
Will I ever get my $900 gold? :lol
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!!!

Don't be SAUCY with me Bernaisse
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peter fraser
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Count du Monet
5 Dec 2013, 09:24 AM
Will I ever get my $900 gold? :lol
Yes I believe so. Be patient.
Any expressed market opinion is my own and is not to be taken as financial advice
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Admin
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Quote:
 
Even The World's Most Zealous Buyers Of Gold Are Now Starting To Get Nervous

Joe Weisenthal Yesterday at 10:14 PM

Chinese buyers are known to be some of the world’s most furious buyers of gold, a fact that gives comfort to gold bulls during these trying times.

But even those Chinese buyers might be tiring out a little bit.

From Global Times:

Affluent dama, middle-aged Chinese women, are seen as one of the major groups of buyers for gold products.

“I couldn’t wait to buy gold as many of my colleagues and friends had already made their purchases,” one consumer was quoted by Xinhua News Agency as saying in April.

However, many of these enthusiastic investors suffered losses as prices have dropped further since April.

“Their purchasing approach has become more cautious than before,” Jiao noted.

Recently, customers have been buying gold bars “in smaller amounts to avoid risks,” said Jiao.

Peng Lihong, a 30-year-old white-collar worker, told the Global Times Tuesday that she planned to buy 150 grams of gold bars, banking on the precious metal as a safe investment.

But she said she would buy it in several batches, as gold prices could keep falling.

Read more: http://www.businessinsider.com.au/chinese-gold-buyers-get-cautious-2013-12
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goldbug
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Bullion smuggling outstrips narcotics to feed India's gold habit


Dec 4 (Reuters) - Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.

Stung by rules imposed this year to cut a high trade deficit and a record duty on imports, dealers and individual customers are fanning out across Asia to buy gold and sneak it back into the country.

Sri Lanka, Thailand and Singapore are the latest hotspots as authorities crack down on travellers from Dubai, the traditional source of smuggled gold.

In a sign of the times, whistleblowers who help bust illegal gold shipments can get a bigger reward in India than those who help catch cocaine and heroin smugglers.
http://www.reuters.com/article/2013/12/03/india-gold-smuggling-idUSL4N0JD1WQ20131203

Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Pig Iron
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Bogan scum

Count du Monet
5 Dec 2013, 09:24 AM
Will I ever get my $900 gold? :lol
gold dealers must love suckers like you
I am the love child of Tony Abbott and Pauline Hanson
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Frank Castle
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Business As Usual

goldbug
6 Dec 2013, 05:35 AM
Bullion smuggling outstrips narcotics to feed India's gold habit


Do try to keep up old man :re:

It was mentioned by me 3 days ago here http://australianpropertyforum.com/single/?p=8447612&t=9992282
Quote:
 
Count du Monet
3 Dec 2013, 10:41 AM
How do you explain $1500 US gold spot in India?
Quote:
 
Restrictions and smuggling.

A shame you dont live in India eh?


And has been in the news since at least 2012
http://blogs.wsj.com/indiarealtime/2012/03/23/can-india-succeed-in-dimming-golds-glitter/

and is nothing new
Quote:
 
Gold smuggling is not new to India; in fact, many villains of Bollywood movies in the late 1970s were often smugglers. One of the most memorable Bollywood smugglers was Lion (pronounced Loyan) played by actor Ajit in movies like Kalicharan and Yaadon Ki Baraat. Even superstar Ambitabh Bachchan was a smuggler in his blockbuster movie in 1975 Deewar.


Heres a 1953 article on Gold smuggling into India
http://news.google.com/newspapers?id=Y8Y-AAAAIBAJ&sjid=gEwMAAAAIBAJ&pg=4391,4176895&dq=gold+smuggling+india&hl=en

a 1969 one
http://news.google.com/newspapers?id=Bn5IAAAAIBAJ&sjid=32wDAAAAIBAJ&pg=7164,5023585&dq=gold+smuggling+india&hl=en

Like I said, nothing new, but apparently to you it is
Edited by Frank Castle, 6 Dec 2013, 11:19 AM.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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