Has the time to sell gold now arrived? Before you start dumping all of your gold, you might want to check out what central banks all over the globe have been doing. There is some serious hoarding of gold that is going on. For most of the past two decades, central banks have been net sellers of gold, but now many of them are gobbling up gold as fast as they can. So why would they be doing this if gold was not a good investment? Yes, we did see gold, silver and oil all take a very serious tumble today. That is what happens sometimes – global financial markets are so unstable at this point that even a piece of relatively minor news can set off a bit of a panic in one direction or another. But the long-term trend for gold has been up, up, up and it look like the central banks around the world continue to expect the price of gold to soar over the long-term. (Read More...)
Hoarding Gold
Is China Hoarding Gold In Anticipation Of A Global Financial Implosion? 10 Facts About Gold Fever In China That May Surprise You
China officially has gold fever. Chinese demand for gold in 2011 is being called “explosive” and “voracious”. China imported five times as much gold in 2010 as it did in 2009, and this year gold sales in China are projected to easily set another new all-time record. China produces more gold than any other nation on the planet and last year the Chinese consumed more than twice as much gold as Americans did. Yes, the Chinese are officially in love with gold. But why is that? Is it because they are concerned about inflation? Is it because the Chinese are losing faith in paper currencies? Are the Chinese looking to diversify? Has gold become a “trendy” status symbol in China? Or is something else going on here? (Read More...)