Loading ...China Said to Consider Scaling Back Restrictions on Gold Imports
By Bloomberg News Dec 3, 2014 11:53 PM PT 2 Comments Email Print
China’s central bank circulated a draft plan to ease restrictions on gold imports, said people with knowledge of the matter, in a move that may lead to lower prices in the world’s biggest market for bullion.
The People’s Bank of China drafted a plan that will open up gold imports to qualified miners as well as all the banks that are members of the Shanghai Gold Exchange, according to the people, who asked not to be identified because the proposal hasn’t been made public. China Gold Coin Inc., a maker of commemorative gold and silver coins, could also qualify to import bullion, they said.
Chinese regulators are pushing to open up the country’s gold trade and lure foreign investors as part of its broader effort to link the mainland to global markets. The country began offering international institutions access to yuan-denominated gold contracts in Shanghai’s free-trade zone in September, a move that may extend its influence over prices while boosting the role of its currency in global trade.
The move may further cut the premium Chinese buyers pay for gold. That spread has averaged $2.74 an ounce so far this year, down from an average premium of $18.75 last year, according to Bloomberg News calculations of the difference between benchmark prices in London and contracts traded on the Shanghai Gold Exchange.
“More importers will level the playing field,” Liu Xu, an independent gold analyst, said by phone. While the move may not lead to more imports, eased restrictions could “erode the premium and benefit Chinese consumers who buy gold,” Liu said.
Good interview with Rod Kirby…We’ve Reached a Quickening
He really targets the U.S. pimps
http://www.allnewspipeline.com/Rob_Kirby_Warns_Quickening.php
Buygold 10:34
It’s all speculation. Armstrong talked about a panic cycle and bearish scare prediction after the Swiss vote after it sinks in he said but instead gold went up not down. First says the vote to save their gold won’t help it THEN after the no vote suggests it opens the door to sell it if they don’t. If they wanted to sell it they already would have and what has that have to do with the rest of the world and those who are buying? He says he doesn’t speculate but he appears to do so when it comes to gold which is always bearish even when it went up.
He’s just a crazy man waving a sign … right?
It’s All Coming To An End, Bill Gross Warns
“How could they? How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their own system accordingly? How could they have thought that money printing and debt creation could create wealth instead of just more and more debt? How could fiscal authorities have stood by and attempted to balance budgets as opposed to borrowing cheaply and investing the proceeds in infrastructure and innovation? It has been a nursery rhyme experience for sure, but more than likely without a fairytale ending. ”
more http://www.zerohedge.com/news/2014-12-04/its-all-coming-end-bill-gross-warns
R640
Hope you’re right but this looks like more of the same to me. Boot firmly on neck action.
More on the war games planned over Washington State and the Olympic Peninsula
Very good interview IMO!!
As per my bullish set-up comment–look at the opening drop-then big spike on the HUI
http://www.marketwatch.com/investing/index/hui?countrycode=xx
That said, I see that every move up gets hit with selling….but the sellers have little to show for their efforts–G&S will do well do show any gains today–and that is my preferred scenario…IF…they are going to make a big move tomorrow
Interesting look at the disasters of 2014 and possibly what is to come in 2015
From Natural News site.
https://www.youtube.com/watch?feature=player_embedded&v=XDue6yQBab8
This is interesting
Utah to seize own land from government, challenge federal dominance of Western states
In three weeks, Utah intends to seize control of 31.2 million acres of its own land now under the control of the federal government. At least, that’s the plan.
In an unprecedented challenge to federal dominance of Western state lands, Utah Gov. Gary Herbert in 2012 signed the “Transfer of Public Lands Act,” which demands that Washington relinquish its hold on the land, which represents more than half of the state’s 54.3 million acres, by Dec. 31.
more http://www.washingtontimes.com/news/2014/dec/3/utah-to-seize-own-land-from-government-challenge-f/
Richard640 @ 23:04
Bill Holter rocks!
Good morning Oasis
Aurcana Announces New Mineral Resource Estimate for the La Negra Mining Operation
http://finance.yahoo.com/news/aurcana-announces-mineral-estimate-la-213000691.html
R640
USD getting smacked because Draghi taking no definitive action.
Interesting, GDX up 3% pre-market.
Today we have to deal with the obligatory keeping of gold in the red in front of the jobs report
But G&S are acting quite bullishly–the FILTH [copywrite=Scruffy] is having a tuff time–silver was just up 22 cent-then suddenly dropped to up 15–gold was also green for 15 seconds-not by much–but is now red, also not by much-tomorrow could be an exciting day
every gold friendly letter writer talks about little rallies in gold “then down again” …and gold maybe being 1400 or 1500 by 2016 or 2018 etc–the surprise-IMO–just might be gold going straight up within 6 monte or a year to 2000–2200–but my long standing contention is that world central banks and governments will simply suspend gold trading around that level….and/or outlaw trading
Draghi doing “Quantitative Speaking”
The king of jawboning is about to squeeze some Euro shorts and smack some USD longs.
Gold Train
Amtrak’s California Zephyr curves through Radium, CO
http://www.railpictures.net/viewphoto.php?id=505752
