Unless the PBOC decides to stop buying, or even sell their gold holdings, the price is not going down anytime soon. And I can't see what will bring that about.
First America and China have to become friends again, and America has to stop spending like money is free even if they can print it. And raise taxes. Does anyone see either happening?
China isn't extending mega loans to other countries anymore, they've stopped buying major assets in the West since their money isn't welcome. Gold it is then, and copper.
Ann: DFS on 3.04Moz KGP on track for delivery next quarter, page-295
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