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. 

Credit: telegraph.co.uk

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/

A Person You Shouldn't Listen to for Gold Advice

When you are reading articles online about gold, make sure you are reading from the right sources.

If you are reading an article about an "expert" calling a top in gold, or claiming that gold is going to crash, do a quick background check before you heed their advice.

My point is that there are many "experts" out there claiming that gold is not a good investing, gold will crash, etc. Looking back at their track record, however, you will find they MADE THE EXACT SAME CALLS BACK IN 2009, 2005, ETC. 

YOU HAVE TO BE SMARTER THAN THIS, THAN TO LISTEN TO SOMEONE LIKE JACK HOUGH.

"How Much Gold Do Investors Need? Zero Should Suffice"

Clueless.

Schiff on Dismal Jobs Numbers and Gold

His Youtube channel SchiffReport is worth following. Check out his new book also when you get the chance - "The Real Crash."  - It's getting outstanding reviews thus far. 

"The Gold Market had a sharp reversal...gold stocks also surged, HUI up almost 7 percent on the day with the DOW down 2 percent...the mining stocks were swimming against the overall stock market."

"To me, some traders are starting to realize that the dollar is not the safe haven it used to be...more people are starting to come to terms that we're in trouble, too."

Keep an eye on the national debt, folks. We're getting close to that ceiling. Greece is still center stage, but when the United States, the main act, comes front and center, that is really when gold will take off.

Are The Miners Starting a Reversal?

It looks like the gold and silver mining stocks (especially the juniors) could be reversing the downward trend they've been in for a while now. While gold has remained under $1600, the stocks have gone up a little bit, with the HUI back up to near 420 and the GDX at 43. 

Perhaps people are starting to realize just how ridiculously undervalued this sector has become. These companies are profitable with $1600, $1500, $1400, even $1200 gold.

http://finance.yahoo.com/blogs/breakout/gold-hits-2012-low-gold-miners-show-signs-132751621.html