gold price may avalanche, page-239

The chinese must be salivating at these prices

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=141529&sn=Detail&pid=110649

Also


There are signs that demand in India and China is picking up again after the latest correction. Bullion dealers in India report bargain hunters again buying on the dip.

Chinese citizens continue to buy gold in record volumes with October the fourth successive record month for imports via Hong Kong (see table above).

The October total was 85.7 tonnes –up very significantly on the September figure which was itself a new record. The October demand was a massive 40 times higher than imports via this route a year ago.

It is the fourth successive month of record imports into China and overall imports through Hong Kong for the first 10 months of the year are around three times higher than a year ago.

Of importance is the fact that the amount of gold imported through Hong Kong amounted to over a quarter of estimated global demand for the yellow metal – as noted by Mineweb.