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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: 8bits who wrote (62421)6/1/2006 9:34:45 AM
From: TobagoJack   of 110194
 
<<How open is the gold market in Shanghai, Beijing, etc..? The same as HK or somewhat restricted..?>>

retail gold done in monetary product counters in gold jewelry shops, can buy with credit card or cash, for mostly bars and less of coins

but (i) shops do not yet buy back (that service is coming soon), and (ii) the premium is ... 15-20% higher than world price in RMB terms (which may mean RMB ought to DEVALUE by 15-20% should it be now floated)

banks will soon be able to deal retail monetary gold in both physical and certificate form

the trend is going correctly, but far from HK standard

in HK we have internet-enabled paper gold and even paper silver savings accounts at major banks
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