china won't be buying this round. The whole scheme of things for china now is to cap inflation and cap asset bubbles. buyin truckloads of gold now is will pump up commodity prices and run against this whole scheme of things.
they have just pared down their stakes in US treasuries and have thus reduced their risks to US debt. they won't be buying this time around bulls. i hate to see those shocked faces when the news is announced. i am a contrarian here and am betting against the best hedge funds out there now
If you look at gold lease rates and discount the official spin in the media and by the authorities a bit, the numbers suggest that IMF gold has already been taken off the block. Lease rates recovered back into positive territory in Mid-January having been negative for the latter half of 2009 while IMF gold was waiting to be sold off.
So what I am saying here is that negative lease rates may be an indicator (a foot-print so to speak), of a large amount of gold available for lease while arrangements are made for it to be sold. I strongly suggest that those who wish to short gold take a careful look at this and take it into consideration.
If you love Jon Nadler then I wish you all the luck. The guy is an idiot, he works for wall street and probably is paid by wall st. to have his comments on Kitco twice a day. He has been hammering gold for the last five years. Look where gold is today.