Sunday, January 6, 2013

China to Double Gold Buying - Price to Skyrocket?

"China’s Ministry of Industry and Information Technology announced that it expected Gold consumption in the country would be running at more than double national gold production by the end of 2015, more than double Chinese gold consumption forecast for 2012.

China is looking to diversify its assets away from the US dollar and to protect its national savings against devaluation and inflation by investing in one currency that no central bank can print."

This seals the deal for $5,000 gold in the near future IMO.