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Thread: Who buys gold ?

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  1. #1
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    Default Who buys gold ?

    It is well known that Stanley Druckenmiller sold all his gold after
    the election victory of Donald Trump.

    Now he buys it back !!!
    Last edited by ynot2k; 02-06-2017 at 07:28 PM. Reason: removed cloaked link

  2. #2
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    Business insider has published a report entitled:
    "It is impossible to keep up with China gold demand."

    A Chinese guy who worked in the field for 45 years says:
    ----there are 375 million Chines who want to buy gold
    Most of them cannot, as they live in the interior, far
    from the coastal cities with more access to gold, Even
    if they lived in the coastal cities, there is not enough
    gold to buy
    ---SGE (Shanghai Gold Exchange) has 10 million customers,
    with 10 million separate accounts
    ----just do the math and see there is not enough gold for
    them to buy

    http://www.businessinsider.com/it-mi...ld-2017-2?IR=T
    cities

  3. #3

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    Flawed reasoning. Interior people can order gold. Or coastal retailers can periodically travel to interior customers.

  4. #4

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    Gold is everywhere, They are mining the sh*t out of it...... Everywhere....

    Search; gold report total ounces mined 2016
    Last edited by Mytal; 02-06-2017 at 09:40 PM. Reason: Add

  5. #5

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    Quote Originally Posted by Mytal View Post
    Gold is everywhere, They are mining the sh*t out of it...... Everywhere....

    Search; gold report total ounces mined 2016
    I understand that you have process a ton of ore to get less than a gram of gold. Gold ain't cheap.

  6. #6

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    sure they are......but they print and e-create it so much faster........I am an idiot who buys....Au.....it has not been this obvious since 1998....

  7. #7

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    I might be a junior member but I've been around here longer than that status........1997 longj....

  8. #8
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    Quote Originally Posted by goldmineral View Post
    Flawed reasoning. Interior people can order gold. Or coastal retailers can periodically travel to interior customers.
    The Chinese guy quoted in the report has worked for 45 years in
    this field, in China. He knows probably better the Chinese realities.

    Maybe the Chinese prefer to buy directly from the store and there
    are not enough gold stores in China's interior..Only somebody living there
    can know it. It is quite different from the West.

    The report quoted says that SGE put in the hands of Chinese investors
    2,000 tonnes of gold in 2016. The world production is around 3,000 tonnes.
    China mines only 450 tonnes of gold a year, although it is the world's
    biggest producer.

  9. #9

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    Central banks buy gold......



    They give you Paper(fiat/Paper gold) and bitcoin to hold..........LOL






    China's gold reserves rose to $71.292 billion at the end of January, from $67.878 billion at end-December, data published on the People's Bank of China website showed.




    Gold deposit accounts in banks skyrocket


    The price of gold, considered a safe haven in investments, has broken records one after another since last year, while the number of precious metal deposit accounts kept in banks are on a rise in parallel with President Recep Tayyip Erdoğan's call on people to convert their foreign exchange savings into gold or Turkish lira in an attempt to help boost the value of the Turkish lira. Having broken successive records since last year, gold became one of the favorite investment instruments in 2016 again.

    According to Banking Regulation and Supervision Agency (BDDK) data, gold deposit accounts in banks soared to TL 16.964 billion ($4.54 billion) at the end of 2016 from TL 10.624 billion at the end of 2015. As far as the last one year's transactions are concerned, this figure corresponds to 51.6 tons of gold, based on the average gold price of TL 122 per gram.

    A total of TL 15.922 billion worth of gold deposit accounts belonged to natural entities, while TL 1.042 billion worth of them belonged to commercial institutions and others in 2016.


    http://www.dailysabah.com/economy/20...anks-skyrocket



    Insurance
    ------------

    1.Many problems coming up in europe in the next few months......

    2. Trump is a wild card

    3.World debt



    The list goes on and on......
    Last edited by Silver and Gold; 02-07-2017 at 08:52 AM.

  10. #10
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    Default

    Quote Originally Posted by Silver and Gold View Post
    Central banks buy gold......



    They give you Paper(fiat/Paper gold) and bitcoin to hold..........LOL






    China's gold reserves rose to $71.292 billion at the end of January, from $67.878 billion at end-December, data published on the People's Bank of China website showed.




    Gold deposit accounts in banks skyrocket


    The price of gold, considered a safe haven in investments, has broken records one after another since last year, while the number of precious metal deposit accounts kept in banks are on a rise in parallel with President Recep Tayyip Erdoğan's call on people to convert their foreign exchange savings into gold or Turkish lira in an attempt to help boost the value of the Turkish lira. Having broken successive records since last year, gold became one of the favorite investment instruments in 2016 again.

    According to Banking Regulation and Supervision Agency (BDDK) data, gold deposit accounts in banks soared to TL 16.964 billion ($4.54 billion) at the end of 2016 from TL 10.624 billion at the end of 2015. As far as the last one year's transactions are concerned, this figure corresponds to 51.6 tons of gold, based on the average gold price of TL 122 per gram.

    A total of TL 15.922 billion worth of gold deposit accounts belonged to natural entities, while TL 1.042 billion worth of them belonged to commercial institutions and others in 2016.


    http://www.dailysabah.com/economy/20...anks-skyrocket

    ......
    I have found this report about the gold market in China:

    http://www.munknee.com/the-chinese-g...-need-to-know/

    Chinese official (government) reserves are estimated to 1,823 metric tonnes.
    However, keep in mind that the big Chinese banks are quite involved in gold
    and have huge gold holdings. Catch ? These banks are state owned...so who
    owns the gold: the state or the banks ?

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