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Thread: Who buys gold ?

  1. #1
    Join Date
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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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    Default

    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

    Default

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

  4. #4

    Default

    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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    Default

    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.

  6. #6

    Default

    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.

  7. #7

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    Quote Originally Posted by oak333 View Post
    The Chinese guy quoted in the report has worked for 45 years in
    this field, in China. He knows probably better the Chinese realities.
    And maybe not. Rural China is not buying gold because they cannot afford to buy gold. If they could, there would be dealers. Markets fill a void. Once upon a time great ships were built to travel the uncharted seas in search of trade across the globe. Are you suggesting that a market for gold exist in Rural China and nobody can think to load up a box, drive the distance and sell directly? Ridiculous!

  8. #8
    Join Date
    Mar 2011
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    3,191

    Default

    I live in the U.S. interior, flyover country, and I buy gold!

  9. #9

    Default

    Quote Originally Posted by nergal View Post
    I live in the U.S. interior, flyover country, and I buy gold!
    Me too. I've even sold gold via craigslist. Dealers go to, or are created where a markets exists. The idea that all available gold is being bought and hoarded by coastal people is impossible to believe, and is in conflict with the basic human goal of having a livelihood and the pursuit of wealth and independence.

  10. #10

    Default

    Quote Originally Posted by goldmineral View Post
    And maybe not. Rural China is not buying gold because they cannot afford to buy gold. If they could, there would be dealers. Markets fill a void. Once upon a time great ships were built to travel the uncharted seas in search of trade across the globe. Are you suggesting that a market for gold exist in Rural China and nobody can think to load up a box, drive the distance and sell directly? Ridiculous!
    Interior chinese are indeed poorer than eastrim people, but during the newyear period when the rural boys and girls who worked their a$$ off on the eastcoast go visit their parents, ( it is a several million people trek, trains are overcrowded... ), they usually give their parents a newyear present ( competing to be the one who gives the most in the village !!! ), either in money or whatever is appreciated, and i guess a lot of them give them gold they bought at the eastcoast.

    D+

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