Agree Carrera - what you describe is indeed perfect scenario for a classic rebound in pog - but when is anyone's guess, dependent on US economy mainly. All the while Asian & Indian retail investors keep buying the stuff on the dips - as they have for decades ;)
Mineweb 3/10:
http://www.mineweb.com/mineweb/content/en//mineweb-fast-news?oid=207299&sn=Detail
Chinese demand is back in the market after the national holiday yesterday. It is clear that the developed world still underestimates the future impact of China on the gold world. We do expect China to be the hub of the gold world, likely well before the end of this decade.
In India the initial estimates of imports are pitched at half the level of last year. This ignores ‘unofficial imports’. The retention of 20% of imports for exports is proving a restraint still, but we feel that demand is strong enough to put this number under upward pressure, particularly because of the low level of imports in the last two months.
On the supply side, gold production has to be cut back to profitable deposits. In addition, each mine bought by China sees that production go direct to China and by-passing the open market."
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