woensdag 26 maart 2014

China gold imports up considerably in February 2014

As predicted here, I knew that China gold imports from Hong Kong had to rise to replenish the lunar New Year buying at the SGE.

So February 2014 gold imports were up massively, especially net imports went up 30%.

If you look at these charts, especially the second one, how can you expect the gold price to go to $1000/ounce? This is impossible. When the gold price was $1000/ounce in 2009, Chinese demand was tiny, now the Chinese demand is multiples of what it was in 2009, at the same gold price.

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