OTCQX:DMMIF - Post by User
Comment by
edxon Jul 21, 2015 12:10pm
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Post# 23944902
RE:RE:poor gold
RE:RE:poor goldMarbob1 wrote: The market is full of lies and deception. The global central banks, after printing money on a massive scale in the past 6 years, considers gold and silver to be a serious threat to its currencies. This latest downturn in gold prices has originated in China and the question is why. A presentation on June 25, 2015, made by the Chairman and Secretary General of China Gold Association, indicated China Gold Reserve to be approx. 9800 tonnes. Last week, the statement of China gold reserve was stated to be little over 1600 tonnes. A day later 5 tonnes was sold in Shanghai Stock Exchange within minutes with the intention of dropping the gold price. This is manipulation at its best and I believe that governments is playing a part in order to keep its economy from faltering. There is a large demand for gold and don't let such events make you believe otherwise. Just be patient for the gold mining companies will become winners. M1
If there was large demand for physical gold spot premiums would be more than $1. There is little demand for physical at the moment, but I'm not too worried. The bond market is starting to show some cracks and as those cracks develop, gold will start to receive attention again.