Gold Demand Explodes Higher as China Announces Decline in Gold Production
TheDailyCoin.org
NOVEMBER 2, 2017
It’s funny that you can’t hardly give away gold or silver in the U.S. or Europe – you know, the nations that are completely broke and need to preserve their wealth, while at the exact same time the people that are moving up the wealth ladder, China, Russia and India, are all acquiring gold and silver by the handful. What does that tell you about wealth preservation?
We, in the West, get articles from the mainstream media telling us to stay away from gold or “invest” in gold through paper vehicles ETF’s. While the government of China, those communist scum, encourage their citizens to possess physical gold and silver. Not only do these “devil dogs” encourage their citizens to hold physical gold and silver they make it incredibly easy by having both physical gold and silver available in every state operated bank – which means 100% of all banks.
The appetite, in China, for physical gold continues to grow.
China seems to have recovered its appetite for gold, with demand for bars and jewellery markedly increasing in the first nine months of the year, data from the China Gold Association shows.
Total gold consumption, including jewellery and bullions but excluding the central bank’s purchases, went up 16% to 815.9 tonnes in the period, the association reported Wednesday according to Xinhua news agency. That’s a positive turnaround from the same period last year, when demand dropped by almost 13%.
Demand for gold bars jumped 44.5% to 222 tonnes amid rising global demand for safe haven investments. Jewellery consumption, in turn, rose 7.44% to 503.87 tonnes. Source
44.5% increase in gold bars in a massive jump. It is offset by the massive decline in American Gold Eagles and Gold Buffalos. If we just look at the 7.44% increase gold jewelry, which would be considered retail gold, we see no change in the metrics concerning gold in the East and gold in the West. The Chinese are acquiring vast amounts of physical gold while the U.S. and EU are probably “investing” in the latest illusion of wealth, cryptocurrencies. Some people just won’t ever learn, while others learn at breakneck speed and put their knowledge to work.
This massive increase in physical gold demand is in light of China announcing a 10% decrease in gold mine production! If we compare the first nine months of 2016 to 2017 same period, we find a 29% swing in gold consumption. If you overlay that increase on top of the decrease in mine production we should be seeing golds value moving to much, much higher ground over the next few months.
The Rest…HERE
