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.
Credit: telegraph.co.uk
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Source: http://www.arabianmoney.net/gold-silver/2012/12/06/china-plans-to-double-gold-consumption-in-three-years-how-high-will-gold-prices-go-now/