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View Full Version : Knock, Knock... Who's There?... CHINA



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08-21-2015, 07:55 PM
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Knock Knock... Who's There?... CHINA (http://info.kitco.com/knock-knock-whos-there-china)
(http://info.kitco.com/another-round-at-the-bar)


Just when it was beginning to look like a tough summer for gold, the metal got some reprieve this week. On Friday, gold prices continued their winning streak, scoring a six-week high. December Comex gold was last up $5.10 at $1,158.30 an ounce.

The yellow metal is beginning to look like a safe-haven buy again. Just take a look at what’s happening; China’s economy is going off a cliff -- as Ken Hoffman of Bloomberg Intelligence just told me -- Yellen is singing the tune of no interest rate rise in September, tumbling crude oil prices are at a 6.5-year low and even shots fired between North Korea and South Korea, are all contributing to pretty uneasy feelings throughout the world marketplace.

In his morning commentary, Kitco’s Jim Wyckoff said it best, “Many traders and investors will not want to head home for the weekend with big positions -- not knowing what to expect in the markets come Monday morning.” As of newsletter time, stocks extended a steep drop, putting benchmark indexes solidly on track for their worst week of the year on the news of slowing growth in China.

That said, optimism in gold should spillover next week. A strong majority among retail investors and market professionals expect to see higher prices the last full week of August, according to the weekly Kitco News Wall Street vs Main Street Gold Survey.

In other news, what’s a weekend without some good treasure hunting stories? This week, two treasure hunters made headlines around the world as they are claiming to have found a ghost train carrying lost Nazi gold – it is reported that it might be as much as 300 tons.

For the full report, and many more exciting and relevant news stories,




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