Post by
skyguyrok2 on Jul 22, 2005 1:36pm
gold news
Cut from the "report, China Gives Green Light to Gold", by Todd Stein & Steven McIntyre Texas Hedge Report, July 22, 2005.
"The bottom line is that today’s move, while small and barely noticed, coincides with the beginning of phase two of the gold bull market. Phase one was all about gold’s inverse correlation with the Dollar. Phase two began earlier this summer when gold broke off its like to the Euro price and started to rise in every currency. The adult citizens of China, all one billion of them, have recently been given the freedom to own gold. Now the government is actually encouraging them to purchase gold as a form of savings. As the Yuan strengthens against the Dollar and other currencies, gold becomes cheaper for the Chinese to buy. We have long known that the day of revaluation was coming, now that it is here, the light says “green” for gold."
Read the "report" at:
https://news.goldseek.com/TexasHedge/1122040803.php