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For Gold everbody is a potential buyer. One article stated....

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locshare11

800 Posts.

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26/08/15

22:45

Post #: 15882208
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Originally posted by Forged ↑

2009 all over again. China will disclose it's gold reserve. It is more than 1059 tonnes now. Soon....

• China is the largest producer of gold in the world today and its production is climbing.

• China's citizenry is the largest consumer of gold and that consumption, even without the incentives outlined above, is growing.

• The Shanghai Gold Exchange, as we have reported and monitor here, intends to open its own gold price fix to compete with London by the end of the year.

• One Chinese bank now participates in the London fix and a second is expected to join shortly. Membership to the exclusive London pricing club was formerly reserved to European and American banks only. The inclusion of Chinese banks in and of itself is an important change in the London and New York pricing formulae. China's national strategy with respect to gold though brings a whole new element to the London/New York pricing regime. China sees gold like the majority of our clientele – as a long term savings instrument and hedge against the vagaries of paper currencies.

• Last, rumors continue to float the gold market that China is about to make an announcement with respect to its national gold reserves. Though the largest gold producer in the world, it still remains a net importer. Most gold analysts believe that the bulk of China's mine production has gone into its national coffers as a hedge. China now reports holdings of 1059 tonnes. An announcement of a large increase would likely send shock waves through both the gold and FOREX markets. Its last announcement of an increase in gold reserves from 600 tonnes to 1059 tonnes in 2009 was the first public indication of China's strong interest in gold. It shocked markets and contributed to gold's rise from the $900 per ounce level in April when the announcement was made to more than $1200 by the close of the year.

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For Gold everbody is a potential buyer. One article stated.
Chinese and Indian are examples. They love Gold.
Australian property market is at its PEAK. Chinese business guys are still looking to buy more because they will live,to stay and work here.
Now It's a good time for them to consider about what they did in past decade that is to hoard Gold. I believe and I wish to be a business man to open a Gold shop.
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For Gold everbody is a potential buyer. One article stated....

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Ark Mines inks 1.5Bt Exploration Target for Sandy Mitchell REE play including NdPr; PFS due in Q4

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