If we add up all the times the Chinese bought 223 tonne in March, they likely aquired all the gold ever created. It is weird how we all read the same sentence in 100 different places. I am now trying to be so careful to cross check facts. As a wild fact you can find 100 times on the net... but it is just a rebrand of the original posting.
The point I wanted to make from this thread was 'it seems 1920 oz makes the Chinese slow down a bit buying'; 'it seems 1350 oz makes them go nuts buying'; it seems 1500 makes them go 'a little nuts buying'
therefore, I conclude a balanced price for gold - supply and demand balanced is 1650 USD. If I was selling REAL gold (not paper play) I would not set the price below 1600 as the demand is too high. I would not set the price at 1900 as the demand is too low. I would go for 1700 and drift down to 1650.
Strange how gold is traded like it is some rumour-filled 'thing'. Honestly, if it just trades on physical supply and demand, the price, from the last couple of years results, is pretty obviously a 1600 to 1700 'thing'.
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