IMF suggested all major economy to increase their assets based securities in order to stabilize their currencies.
China has to buy assets based securities and that only means GOLD.
CHINA - Russia - Italy -Germany - India - Australia - UK - Swiss and then USA - Central Banks to buy Gold as per IMF requirements.
Chinese Deal on the way.....
Barrick Gold Corp.(TSE:ABX)’s mothballed Pascua-Lama gold project may yet see the light of day if partnership talks between the gold miner and state-owned Chinese company, Zijin Mining Group Co Ltd.(HKG:2899)come to fruition.
A report in the Financial Post, which quoted this blog, says Argentinian mining minister, Felipe Saavedra revealed in an interview that Barrick had been talking to Zijin – a fact confirmed to him during his visit to China by the latter’s CEO.
The Minister also said that the Chinese had visited the Pascua-Lama gold project, located high in the Andes on the Argentina-Chile border, several times.
China National Gold Group Corp (China’s largest gold producer) shortly partner with Barrick Gold. Partnership will get Barrick Gold a royalties from Pascua Lama gold-and-silver project.
Fk that JP Morgan guy who is working for Short hedge ...most billionaire lost their short position with major retails ......Now GOLDMAN SACS hold larger stakes in Barrick Gold shares.
The global economy's problems seem to be multiplying. 20 most developed economies sought to boost confidence by promising to increase global output by $2 trillion over five years, Japan said it had fallen into recession.
China is slowing as well, and Europe can't seem to take off.United States and Britain are growing at decent rates, and how long that lasts depends on how much trouble their trading partners are in.
Better you cover now otherwise $20 is too much for you ...GOLD is ALL TIME HIGH NOW...
Dealers said appetite for physical gold among Asian buyers surged after prices fell to a low of $1,175 an ounce.
"We have certainly seen physical demand pick up on dips over the last couple of weeks after gold's aggressive sell-off," said David Meger, director of metals trading at brokerage Vision Financial Markets in Chicago.
NEW YORK/LONDON, Nov 20 (Reuters) - Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day's 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers.
Bullion investors focused on U.S. Labor Department data which showed underlying inflation pressures rose in October, even though that also bolstered expectations of a mid-2015 interest rate hike from the Federal Reserve.
Q3 results were indicative that ABX is not just oversold but highly under valued stock when Gold is touching $1200 first time in 1 year.
Accordingly, the Committee decided to conclude its asset purchase program this month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.
Print More Money and Buy Gold silently like all other Central Banks in the World. But Don't disclose to the Public otherwise $$$ will collapse.
Print more money and Buy Gold - Only option left as FOMC meeting read between the lines.
Wednesday's minutes from the latest US Federal Reserve meeting "left no-one in any doubt," reckons one bullion-market analyst, "about their will to continue normalizing monetary policy."
GOLD is hold under $1200 but moment it crossed ....ABX $22 SHARES