I'll be selling my long stock positions next week. This is November. If I had gold, I'd be selling that too.
all the gold in the world can fit in a small building. And china wants to get out of dollars. Think about that. Sell dollars buy gold.
Dunno, gold might go to 1500. Of course, it might not. I wouldn't buy it. But i also wouldn't short it.
I don't know what China will do with their dollars, but if they have any sense at all they will use them to buy US assets, not gold. I would be seller of gold right now, not a buyer.
I'm not convinced that they are as interested in storing things as they are in protecting themselves against future U.S. inflation, and possibly even making a profit in constant dollars. But continue, nevertheless, with your thesis.
Gold is not for the faint of heart, however all bull markets end with some kind of a blow off top. Gold in 1980 was a blow off top as was the Nasdaq in 2000 along with the Nikkei in 1990. I don't see anything like that in gold now and I don't see the printing presses slowing down anytime soon.