Shanghai Gold, Silver Volumes Surge To Records and Premiums Rise As Night Trading Begins
from Gold Core:
“The extended hours could give China a better hold in the global gold market” noted Reuters.
That it will and we are gradually, and imperceptibly to most, seeing China becoming one of the key players in the global gold market – from a monetary perspective, from a supply and demand perspective and soon from a price perspective.
China, its people, its banks, its central bank and its Gold Exchange will soon exert more influence on the gold market than the speculators who have greatly contributed to gold’s recent price weakness.
The Chinese understand the importance of gold as a store of wealth and as financial insurance unlike many western speculators and banks and the mass of the western public … today.