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Thread: Who buys gold ?

  1. #3001
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    "It is not enough to be right. You have to sit tight."

    Jesse Livermore

    With so many moves in the price of gold, you might get confused.
    What is the right action ?

    Let us look at the facts:

    https://schrts.co/egctueQd

    The 200 DMA has gotten up unabated for years now.
    The 50 DMA has consolidated and now resumed its march upwards.

    More importantly:
    -----during inflationary times, gold demand has always increased.
    -----during periods with increased danger of war, gold demand has
    always increased. Look what Wall Street Journal says about it:

    https://www.youtube.com/watch?v=mHBoCf5mPjY

    It looks like gold is no brainer...and yet the countertrend moves
    in gold hurt a lot.

  2. #3002
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    China lifted the gold import curbs. Demand for gold has increased dramatically.
    The difference of price between Shanghai and London went up to 120 $.

    https://www.ft.com/content/b8406698-...7-03c29f6f5779

    China actually incentivizes its people to buy gold. In a country with high savings
    rate, that will increase significantly the gold demand...so much that the whole
    world gold supply can be absorbed. See what Andrew Maguire says about it in
    this video (around min 11)

    https://www.zerohedge.com/news/2023-...-gold-shortage

    My note: this huge demand for gold can have only one consequence for the price of gold.

  3. #3003

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    Quote Originally Posted by oak333 View Post
    China lifted the gold import curbs. Demand for gold has increased dramatically.
    The difference of price between Shanghai and London went up to 120 $.

    https://www.ft.com/content/b8406698-...7-03c29f6f5779

    China actually incentivizes its people to buy gold. In a country with high savings
    rate, that will increase significantly the gold demand...so much that the whole
    world gold supply can be absorbed. See what Andrew Maguire says about it in
    this video (around min 11)

    https://www.zerohedge.com/news/2023-...-gold-shortage

    My note: this huge demand for gold can have only one consequence for the price of gold.
    They are so very caring of their people...not.

    The reason for this IMO...is when China needs the gold, they have a ready made pool to draw from...they will first ask the people to donate, then they can mandate it. 1.4 billion people...I mean, 1.4 billion slaves.
    Politicians and diapers must be changed often, and for the same reason. -Mark Twain

    The purpose of life is to matter, to be productive, to have it make some difference that you lived at all. -Leo Rosten

  4. #3004

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    Quote Originally Posted by Miteysquirrel View Post
    They are so very caring of their people...not.

    The reason for this IMO...is when China needs the gold, they have a ready made pool to draw from...they will first ask the people to donate, then they can mandate it. 1.4 billion people...I mean, 1.4 billion slaves.
    Exactly my thought when I read the post as well.

  5. #3005

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    Quote Originally Posted by ynot2k View Post
    Exactly my thought when I read the post as well.
    I have to say that was my first thought as well.

  6. #3006

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    Quote Originally Posted by Miteysquirrel View Post
    They are so very caring of their people...not.

    The reason for this IMO...is when China needs the gold, they have a ready made pool to draw from...they will first ask the people to donate, then they can mandate it. 1.4 billion people...I mean, 1.4 billion slaves.
    Bingo !!!

    the CCP see their people as subjects that serve the communist party.

    As the real estate market collapsing, wealth leaking out to safer haven outside of china, china is broke and the CCP is clamping down on money exiting china and looking for ways to exact money from its citizen. Cities and counties are bankrupt, are now instructing police and inspectors to get money from their people with aggressive fines for any minute infraction or perceived infraction.

    With the help of digital currencies, the CCP had tabulated from their database record of all ownership of asset (mainly real estate), to be taxed (wealth extraction), regardless which provinces the assets are resided.


    china making sure real estate acquired prior to digital transaction get recorded and tracked

    Since ~98% of all transaction is done by digital transaction, CCP will know 99% where and whom owns the gold (strict protocol of gold shops not to take cash. There is no banks or gold shops that aren't controlled by the CCP.

    quote from the articlethe Chinese push for all 1.4 billion citizens to regularly purchase gold through the People’s Bank of China.

    However, there will always some smuggling of gold from their gold mines that couldn't be tracked). Having their citizen to own PM will also reduce outflow of digital yuan and crypto out of china, making sure there are something to steal from one day.

    One relief tho, a chinese person told me that if your net worth is less than ~1 to 1.5 million yuan (about < 150k-200k USD), you can relax, CCP wouldn't go after you. I told him....., for now.
    Last edited by yellowsnow; 10-07-2023 at 04:12 PM.

  7. #3007

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    i don't think the chinese communist-capilalistic government to be worse than our capitalistic-communist governments what money extortion concerns. All governments ALWAYS need MORE money, Everywhere and for whatever reason.

    I bet with whomever that he cannot find a single country / government that diminished its drive for revenues.

    Golditiki2+++

  8. #3008
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    Quote Originally Posted by ynot2k View Post
    Exactly my thought when I read the post as well.
    I think we are in agreement.

  9. #3009
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    There was much discussion about the role of gold as safe haven.

    Well, these few days have demonstrated clearly that gold is a safe
    haven. With the events in Israel, gold went up 50 $ or so. No need
    of complicated financial theories.

    https://www.reuters.com/article/glob...-idUSL4N3BF2HQ

  10. #3010
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    Gold miners are at low prices.

    Here you have an abstract of them:

    https://www.barchart.com/investing-i...ST_EMAIL_ID%5D

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