Dateline Feb 22, 2105: China just kicked off their New Year, the Year of the Ram. Coiniciding with the Chinese New Year is a lot of gold buying by Chinese citizens. In fact, China is consuming more gold than the world is producing, according to a report by Frank Holmes. The article goes on to say that “The World Gold Council (WGC), in fact, calls China “a huge, relatively untapped reservoir of gold demand.” ” Read more here.
What does all this mean for gold investors. It would appear that supply is low and demand is rising globally. This should bode well for the price of gold. Combine that with rising world debt levels and increasing geopolitical strife: It is apparently a good time to buy gold.
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