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China buying Gold Mines Instead of Gold Bullion
A top industry official from the China Gold Association told The China daily back in February that the Chinese purchase of IMF bullion would cause market speculation and volatility. Instead, China is continuing to buy gold not directly from the market but through acquiring gold mines…abroad!
Dennis Gartman reported in March: “Perhaps we are to begin owning gold mines rather than gold futures of gold ETFs. We have avoided owning mines for years, preferring the “purer” play of owning gold rather than the mines, for we fear being exposed to poor mine management, or accidents in a mine that might do damage to the equity while gold itself moves higher. But if the Chinese authorities want to own mines, perhaps we have to consider doing so also…”
http://www.zerohedge.com/news/2015-06-04/whos-next-china-finally-starts-snapping-gold-miners
Question ? You taking some paper profits off the table and converting to ounces, or hanging on to the paper ?