KITCO - Gold discussion Message Board

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Gold/Mining/Energy : KITCO - Gold discussion

GLD 386.47

-0.2%

Dec 5 4:00 PM EST

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From: mugwump9	6/5/2016 6:40:27 AM
	of 989

china puts a floor under gold price- maguire And after openly encouraging Chinese citizens to buy gold, the PBOC will not let the price of gold fall in any significant way. This will impact the U.S. dollar price. China openly encouraging gold buying also suggests they are getting close to announcing their true gold reserves, which are currently aggregated (and concealed) among several state-owned banks and therefore not previously reported as reserves In just the last two weeks, during the takedown in the gold price, 340 tonnes of paper gold was flushed out of the market. This brought the Open Interest structure back to what it was before the hot money ran prices into the $1,300s. But these wholesale levels are steadily rising because prices are being kingworldnews.com

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