There’s one word for that. Whoa!
Also, this line from the Bloomberg story: “Based on
conversations with officials in China and Mongolia, it’s evident that China
feels they want as much gold as much as the U.S.”
I’ll do the math for you. That would mean China wants to add
another 5,963.5 metric tonnes on top of last year’s buying binge. If it keeps
buying at last year’s rate, that would be another 10 years of massive buying by
China.
But it could buy less, it could buy more. I’d say it would
buy more if it thinks it is buying gold at a discount.
Read the rest
of the article
Story #2: Chinese Consumers
Are Loading Up, Too!
"Should Chinese demand continue to be around 100 tonnes
per month [as in 2013]," said Eugen Weinberg to Bloomberg on Monday,
"then we're likely to see a strong recovery in gold prices."
Now forecasting a possible 12% rise in world prices in 2014,
and noting that Hong Kong "[is] the trading hub" for China's flows,
"This is likely to be make or break for this year," he concludes.
Read the rest of the
article.
Story #3: Arab shoppers are buying
a LOT of gold.
“The impression is that these shoppers are buying into gold
as a sort of defensive asset against social or economic uncertainties in their
home countries.
Read the rest
of the article
Story #4: Could Gold
Coin Shortages Lead to Rationing?
This article is from ZeroHedge, so take it with a large
grain of salt. But they’re quoting
a source from the Perth Mint.
Mines are valued dirt-cheap, and the miners know it. The big
fish are eager to snap up the little fish. Osisko is up 19.7% on the news as I
write this, while Goldcorp is down 3%. If gold prices do head higher from here,
this is very accretive to Goldcorp’s value.
Will we see more takeovers? At these prices? Bet on it!
Read the rest
of the story here.
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