Another 2 days of volatile Gold trading. On Tuesday we saw a fall, and yesterday during US trading session we saw big rise in gold price again. There could be many reasons for the drop in price. Firstly, we know China is closed for trading and secondly it was the quarterly Options Expiration day. So with low trading volume, volatility is expected, but it also pose great accumulation opportunity. I am still monthly accumulating mode in my positions – as long as world debt is still piling up each day. Frankly I can’t see how this will end in short term. And I really don’t see any sound currencies available. Everyone is in some sort of “stimulus” mode and everyone is facing slow growth and debt/credit issues.
Today, King World News reported China is accumulating another 5,000 tons of Gold. 5,000 tons is REALLY huge. 1 metric ton = 1,000kg.
Stephen Leeb: “In the short-term, if investors want to buy a precious metal, I would buy silver because silver has more upside. We are seeing increased demand for solar, massive money printing, and this means huge upside for silver. But for patient investors, they should know that in the future instead of gold trading in the $1,315 area, gold will be trading at $13,150. There is going to be a spectacular rise in gold, and we are getting closer to that big move as the Chinese begin to accumulate another 5,000 tons of gold.”
Article: Stunning – China To Accumulate Another 5,000 Tons Of Gold (From King World News)