Global Market Commentary, Analysis and Investments
Stocks up, gold down.
Once again yesterday, investors demonstrated their preference for paper over the shiny yellow metal. The Dow Jones Industrial Average notched a slight 3-point gain, while gold tumbled about $17 an ounce.
This divergence between stocks and gold is not enormous, but it is telling. Most investors believe the credit crisis is a mere memory, and that an economic recovery is underway.
[Read more...]The collapse in India’s gold demand during 2007-09 might seem good reason to question the fundamental strength of gold buying worldwide.
After all, if the world’s No.1 gold buyers can’t keep up with record-high gold prices, who can…?
But the plain fact, as BullionVault first forecast in spring 2009, is that China has overtaken India as the number one private gold buyer this year. The typical Chinese New Year gold rush has already begun (thanks in part to 3% discounts at major retailers), and robust demand looks likely to continue through 2010 if not beyond.
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China Enters the Gold Market
There was an editorial power struggle at Mogambo News Service over whether it was Big, Big News (BBN) or if it was Big Freaking News (BFN), or even if it was The Biggest Freaking News Of Your Life (TBFNOYL) that China has, officially through the People's Bank of China, said that they have “seen the light� as concerns gold, and they see how gold is the only true money, and how worthless paper monies and computer blip monies are the Wrong Way To Go (WWTO), as evidenced by the Chinese merely looking at us Americans and what happened! Hahaha!
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