Shelby-villian
Predaceous Stink Bug
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Very interesting the massive upturn of gold buying in mainland China.
Eric Sprott 1/25/12:
“So it’s obviously going to increase the demand for gold and we have seen some data that China has been a rather large buyer of gold. People will consider it a currency and it has to necessitate more buying. You know, Eric, I think one of the really interesting things that happened was the imports of gold into China, from Hong Kong, which always were less than 20 tons a month, all of the sudden, beginning about 5 months ago, went 20 (tons), 30, 40, 80 and in November 102 tons. 102 tons is a staggering number. The world mines, excluding China, less than 200 tons a month. China cannot continue to buy 102 tons and not have the price escalate dramatically.”
http://kingworldnews.com/kingworldn...ive_Chinese_Buying_Will_Spike_Gold_Price.html
Eric Sprott 1/25/12:
“So it’s obviously going to increase the demand for gold and we have seen some data that China has been a rather large buyer of gold. People will consider it a currency and it has to necessitate more buying. You know, Eric, I think one of the really interesting things that happened was the imports of gold into China, from Hong Kong, which always were less than 20 tons a month, all of the sudden, beginning about 5 months ago, went 20 (tons), 30, 40, 80 and in November 102 tons. 102 tons is a staggering number. The world mines, excluding China, less than 200 tons a month. China cannot continue to buy 102 tons and not have the price escalate dramatically.”
http://kingworldnews.com/kingworldn...ive_Chinese_Buying_Will_Spike_Gold_Price.html