Buying frenzy. China bought a huge 10% of world gold output in 10 days.

http://www.chinanavis.com/mainland-china-investors-bought-300-tons-of-gold-in-10-days/#.UYFQzEqRczd

 

There's more Chinese with investable income then the entire American population and the chinese government is encouraging gold and silver investing.

 

1) Does the link "work"?
2) That type of extreme buying has to be bearish! :eek:

 

http://www.forbes.com/sites/gordonchang/2013/04/28/china-goes-gold-crazy-why-now/

 

So much for the Chinese buying gold "on sale" :eek:

 

well...it's down 5% they can buy even more. there is plenty of sellers and not much of a demand..i guess-whatever they bought-is not that 'huge' to move the gold market up

 

Metals were so bubbled up the balloon has a long way to deflate. Commodities are deflating as the world is in a recession. We are deflating the largest credit bubble ever. Metals are a good SHORT until the bubble deflates and then sure up we go again. When? I'd think right around the time Japan resets in a couple of years.

 

what is your downside target for gold

 

Back down to ~$300/ounce. :eek:

 

I do not have a position on gold. All I was thinking when the article came out was "there is no way all these people will be rewarded."
Same old same old...