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I don't think Russia & China want the POG up just yet. It's been...

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bevter

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30/01/15

15:57

Post #: 14669363
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Originally posted by Golden gun ↑

Thanks for that Skol & appreciate your posting. However, I stand by my two previous comments and will buy as much gold as I can lay my hands on at anything even near $200+ per ounce. The west (i.e. Europe, USA etc.,) have lost the plot with the POG which is now in the hands of China, Russia etc., I hate to say this but Europe was a steady seller a few years back and I do believe that this will come back & bite them in the ass! The eastern bloc for want of better name have been buyers & hoarders of gold since Moses played full back for Jerusalem! They are not buying gold for filling teeth either! Can you imagine the shock if the Eastern bloc refused USD in payment for oil? The USA may be a sizeable producer of shale oil but it still needs to import the Eastern bloc oil for various fuel mixes. It has long been mooted that the BRIC countries would form their own gold backed currency. I don't know how that would shape up after the recent oil price plunge. With all of it's problems it does not seem to have stemmed the Russian appetite for the yellow metal.

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I don't think Russia & China want the POG up just yet.
It's been travelling very flat today. Hmm, which way will it go tonight????
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