Why You should care about China’s higher advertised Gold Price
This morning a post was put up on GoldFix about China Gold in reply to a question —
Twitter throttles links to the Goldfix site
So here it is in soundcloud.
This morning a post was put up on GoldFix about China Gold in reply to a question —
Twitter throttles links to the Goldfix site
So here it is in soundcloud.
Twitter refused to connect it. The main point I believe he and a few others are making is that it is an arbitrage. China and others are buying off of Comex andLondon at the artificially lower prices and selling in Asia at the higher prices which are more realistic. Not because they are higher prices, they are more realistic because it is a market of real physical metal in Asia as oppossed to the electronic paper market in NY.
No doubt inducing people to sell their gold in Asia as well. Thereby taking the business to the east over time. As well, if they intend to back their currency with gold, even in an informal way, higher prices will strengthen that currency.