Loki I have heard a good counter argument from Faber;
If the Chinese econonomy gets in serious trouble then the Yuan is at risk of dropping. There are now a great number of wealthy Chinese and many of those may put some of their cash into gold as they may not like any fiat alternatives and like the Indians many Chinese trust in gold.
The chinese (and world) economy stalling may be very good for gold for more than just the short term. More than likely we can only guess as there are so many variables.
Happy to see this up for holders (even happier to see my MML up just as much).
The usual suspects- PRU, SBM, SAR, SLR all up 7-10% today as are RSG and MML. Hopefully gold holds these levels overnight.
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