well, once gold reaches 3,400 - 3,500 level. it will go MUCH high!!, ratio between dow:gold at least reaching 2
Google the sentence, "Mainland China imported 834,502 kilograms (834.5 metric tons)"
,"China's 2012 gold output up 12 percent" you will find the links.
So China consumed about 834 + 403 = 1,237 Tons Gold!!!
2011 world gold production about 2,700 Tons. Google this to find link:
"World Gold Production 2012"
And 2012 production, at best, would be around 3,000 Tons.
So China was from nowhere years ago and Suddenly consumes almost 40% world gold Production... Do we feel the supply shortage???
I feel these big banks (Shorty) have big trouble to cover their position...
I see these big banks who short GOLD are in big trouble. It was said that in China purchased 1000 Tons GOLD in April. only during middle of April, Gold price huge drop week, Chinese bought 300 tons!!! Chinese have huge saving in bank account. Housing is too expensive and China's stock market is flat at best. Even worse, inflation is high... So money Have to go somewhere some place - That is good and Silver.
And That just before Appril's gold price big drop.
And world gold production yearly like 3,000 Tons.... Go figure!!!
SP500's Q4 2012 eanings, 67% reported, growth only 2.8%!!!!! Q1 And Q2 of 2013 earning expectation are just -3.1% and +3.9%!!!!! How come the stocksare so much in last 6 months? This is nothing but pozni schame....