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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (95637)	10/18/2012 7:21:21 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218435

the whole article theaustralian.com.au you cited is just heart-warming 4 bil of gold, say 75 tons ... wonderful ... just getting started adding a glow to this day so many souls engaging w/ so much gold creating more liquidity for the insurrection of savings and adding much strength to the rebellion of thrift theaustralian.com.au Sales soar 900pc as China makes grab for Aussie gold BY:MICHAEL SAINSBURY AND SARAH-JANE TASKER From: The Australian October 18, 2012 12:00AM Source: The Australian GOLD has soared past coal as Australia's second most valuable physical export to China, with sales up a whopping 900 per cent for the first eight months of the year, bringing in $4.1 billion. Chinese buyers are hoarding the precious metal amid a slowing economy, property-buying restrictions and uncertain financial markets as its central bank increases its holdings. The unprecedented jump in gold sales, along with continued acceleration of export revenues for other commodities led by coal -- up 80 per cent to $4bn -- caused total exports to China to rise by 10.7 per cent for the year to August, according to Australian Bureau of Statistics figures. Shipments of Australia's biggest export, iron ore, were up 20 per cent for the same period but the total value of $26.9bn was down 5 per cent compared to last year, because of the mid-year price slump. China's foreign currency reserves of gold are low and its move to build them up will provide an important base demand for gold, analysts said. Nigel Moffat, manager of treasury operations at the Perth Mint, said large quantities of the Mint's gold had been supplied to China through a variety of banks. "During the last year demand has increased significantly, which has meant that from time to time demand well outstripped supply," he said. "In the last four to six weeks though, demand has fallen off significantly, as it has everywhere." China's gold demand was beginning to outstrip even India's. The trade in gold bars and coins for savings and investment has only ramped up in the past three or four years in China. Jewellery investments have also soared in recent years as ornamental gold has once more become a fashionable investment. At Caibai, a busy jewellery and gold market in Beijing's western suburbs, customers were buying gold yesterday afternoon. Local accountant Lu Qing, 38, bought a 20kg gold bar, a necklace and a pair of earrings. "Buying gold is a stable investment," she said. "You can expect to make a profit out of it, but if nothing dramatic happens you won't lose much. "If you put money in a bank your savings might be eroded with inflation or low interest rates -- bank fees are getting higher too. "We spend an average of 5 per cent of our annual income on gold, which we keep at home." The managing director of Australian goldminer Northern Star Resources, Bill Beament, said the Chinese were becoming very active in the corporate gold market. "They are very active (in Australia) . . . and we aren't talking small gold producers, it is the big Chinese gold producers that are visiting," he told The Australian. The attractiveness of gold as a safe haven has increased as governments around the world continue to print money, diminishing the value of the dollar. "With gold, you dig it up and it's not something that diminishes in value," Mr Beament said. China, the world's largest gold producer, has already increased its interest in Australian goldminers this year and taken a majority stake in listed-company Focus Minerals. Jake Klein, executive chairman of gold company Evolution Mining, said it was encouraging to hear more gold was going to China. "China is going to be an increasingly important destination for gold, there is no doubt," he said. Additional reporting: Zhang Yufei

To: ggersh who wrote (95637)	10/21/2012 7:38:44 PM
From: TobagoJack	Read Replies (2) \| Respond to of 218435

the numbers are out (1) besides the earlier noted year-to-end-august direct import from australia zerohedge.com (of 75 tons), on top of own production (guess 200 tons thehindubusinessline.com ), and do not forget the import via hong kong of (512 tons), (plus the always import from s.afri .. but never mind all that) the tally to end august is 787 tons, an auspicious number, and up ahead, the chinese lunar new year accumulation program should kick in, now that the once-in-800-years reforming economy has soft landed and is about to take off post leadership change