Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

How Much Gold Is China’s Central Bank Buying?

IMG Auteur
Published : February 13th, 2013
271 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

[Some excerpts from the latest issue of the Weekend Update in the subscribers section of the website.]

The lack of safe haven demand, driven by a perceived improvement in the global economy, has played a key role in keeping gold and silver prices range bound, however, the chart patterns that have developed in recent months are likely to be resolved with a big move up or down in relatively short order.

24hGold - How Much Gold Is Chi...

This could attract the attention of hedge funds that have clearly lost interest in the metals lately, as the stock market has pushed higher.

Fortunately for precious metals investors, demand from Asia remains strong as evidenced by record gold imports and record gold production in China along with reports of a surge in gold smuggling in India following duty hikes by the government, part of an ongoing (and, ultimately, futile) campaign to limit gold imports.

Long-term macro considerations such as central bank money printing and intractable sovereign debt troubles in many developed nations continue to support precious metals prices, but, absent an outside catalyst, a near-term major move higher for precious metal prices seems unlikely.

In a sign of just how range-bound metal prices have become, spot gold closed on Friday exactly where it did a week earlier at $1667.60 an ounce, while the silver price fell 1.3 percent, from $31.84 an ounce to $31.42.

Gold tested the $1,680 an ounce level on two occasions last week, and silver tested the $32 an ounce mark as both metals just don’t seem to want to go much higher or lower… for now.

[To continue reading this article, please visit Seeking Alpha.]


Data and Statistics for these countries : China | India | All
Gold and Silver Prices for these countries : China | India | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
The Revenge of Comet Pizza
25 Febprljr0
Why after all this time and accusation , in a city composed of lawyers have there been NO lawsuits filed to defend Comet kidderia? HMMMMMMMMMMmmm
The Revenge of Comet Pizza
24 FebDoom0
To be fair, Milo resigned from Breitbart, he wasn't "bounced." The problem we have here is this takedown was choreographed across the fake media, a...
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
20 Febmanfredhumphries3
If you stopped spending so much money on the deep state, military and wars that protect you from nothing and make the world hate America, and stopp...
Alan Greenspan renews gold advocacy, Part 2
20 Febdennyc
Believe it - Greenspan is as dumb as he looks. I'm slightly puzzled as to why the author would use Greenspan as a source for anything. Even a curso...
“That War You Ordered….”
20 FebRosscoe2
Nice comments James If Trump is as mad as everyone says he is , then anything is possible,but I doubt he is and being a tough hombre, he h...
“That War You Ordered….”
19 Febscipionasica3
How splendid to read a clear and lucid article. I am a British citizen living in France and I confirm to you that the illogical nonsense fed to yo...
Alan Greenspan renews gold advocacy, Part 1
18 Febstinger
STFU Greenspan, shut your lie-hole already. When you had a chance to make a difference you sold us out. Nobody gives a chit about...
“That War You Ordered….”
18 Febcomptel
Very good article, except for the unneeded bad language!
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS