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SPDR Gold Shares Message Board

  • fed_up_c_ws fed_up_c_ws Feb 20, 2013 11:27 PM Flag

    Sell Off is Overdone

    $1540 will hold. Whoever said Chinese dont want gold are full of #$%$. The Fed cannot push gold much lower as Asians will take delivery of COMEX gold. The Chinese already have treasuries backed by gold, their next goal is Remimbi reserve status, which they will accomplish by backing their currency with gold. The current US policy is very short sighted as gold coins and bullion are leaving the country by the ton daily. Gold is money, and I dont mean the garbage ETFs like GLD, which were created in 2004 to provide the banksters with another tool to defend fiat currency.

 
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