Posted by Dominique de Kevelioc de Bailleul on Jan 11, 2012
Today’s revelation of China’s surge in gold imports in the month of November from its principal gold dealer, Hong Kong, exposes Western financial media for the umpteenth time for its blatant propaganda (at the behest of central bankers) against one of the only assets that will protect wealth during these most turbulent times. Sign-up for my 100% FREE Alerts
“Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October,” stated bullion advisory group, GoldCore. “This is a 20% increase from the already high number seen in October and a 483% y/y increase.”
See zerohedge.com for the full article from GoldCore.
Note: see the staggering trend of Beijing gold purchases in the Reuter’s chart, below, halfway through the article.
While a media blitz campaign waged against the gold market kicks into full gear, the Chinese buy tons.
And let’s not forget India, the country that, last year, bought more gold than Switzerland claims it stores with the SNB, which is approximately 1,000 tons.
“Gold traders in India, the world’s biggest buyer of bullion, stepped up buying for the upcoming wedding season, as gold prices stayed near the week’s trough, giving silver a boost,” India’s Economic Times stated on Jan. 11.
The two largest bulk buyers of gold are stepping up with increasingly larger orders as the spot price retreats, but the U.S. and UK media tell readers the gold bull market is over—or that gold should be seriously questioned as to its validity for wealth protection during the biggest financial crisis since the 1930s.
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