Otherwise how will honest and hard working Americans be able to buy gold?
Gold is going to the moon this year. Those guys in Washington DC either need to quit printing so much money or resume short selling of gold they don't have (excuse me, I mean "leasing") or else this thing is going to 600 by Valentine's Day.
And then the Asians will really start buying all the gold!
HG
I remember the gold bugs here on FR talking about buying gold when it was $380 (not that they don't always recommend buying). I suspect as the Chinese become more affluent with their new found wealth they will be buying lots of gold given their massively under-valued currency.
The value of gold never changes. The price , however, does.......
Yep, those dang Asians sure do want a lot of gold rings!
Now I don't doubt that Asian jewellers are demanding a lot of gold. But we have already mined enough gold that Asian jewellers could be making rings for decades and we wouldn't have to mine another ounce of the precious metal. Seriously, the inventories in central banks are really that large.
There's something else going on here. And it has to do with the ratio of dollars in circulation to the number of ounces of mined gold (extremely large and stable). Hint: Don't focus on the gold.
The miners went nucking futz today. Gold and silver have resumed their slow grind towards "a google," or some equally impressive long-term objective. Nice start to the year.
I agree, and I expect we will see gold go through $600 before mid-year. Aside from any other factors, there is the build up of inflations on the currencies, with energy prices as they are.