Loading ...I guess the question really is “why not down”?
Unfortunately there’s nothing about the HUI or pm shares that signals we’re going up. Down most always works or at least it has for 3.5 years.
ZH has an article about Russia backing their currency with gold – but why? Allistair MacLeod is mentioned, no help there.
http://www.zerohedge.com/news/2015-02-12/russia-planning-gold-based-currency
Then they have another article that says CB’s have bought the most gold in 50 years and yet…..we go down. Because the paper killers in NY and London own the pricing mechanism. That never changes, regardless of physical demand. We can buy phyzz all day long here in the states for spot plus a small premium. There is no shortage.
“And as everyone following the physical gold space knows, there are really just two key, outstanding questions:
- What is the updated total inventory of Chinese gold holdings (estimated to be somewhere between 3,000 and 6,000 or more tonnes), and
- Just what is the PBOC waiting for and when will it reveal this number
With global geopolitical events moving ever faster, and with “developed world” central banks increasingly losing control almost on a daily basis, China may have to answer both questions relatively soon.”
Always more questions than answers. ALWAYS.
Drop the G-Damn bomb already or STFU.