However it’s essential to keep in mind whilst these stats may put a smile on your face there are forces at work to keep gold and silver prices low which means there are no guarantees. I have seen an important question asked more than once.
The question that is often asked is if the charts we see in precious metals market cannot be completely believed why would we look at them at all. The simple answer is that is what we have and if that’s what we have then it’s what the market has.
Essentially the data can tell us some pretty interesting stuff and what you will see below is just that. There is no such thing as a sure thing however technically speaking this is info certainly tells a story.
The past three years in particular have been impressive for gold. Take a look:
“Gold has had a very nice up trend-line since late 2008” Steve notes. “Since then that trend has held several times making strong bounces off of that trend-line.”…
For more on the who buys gold scenario there is further spot light on China and one wonders exactly how much the country really holds when you consider the serious appetite it’s citizens seem to have.
Those, of course, are the numbers coming out of Hong Kong into the Chinese private sector. The official People’s Republic of China gold holdings are a lot less easy to come by (since China doesn’t frequently publish updates to its gold holdings.) For example the last official count was in 2009 with 1,054 tons.
But be warned, the next time we see an update to China’s gold holdings we could be in store for a game-changer. I have the feeling that China is in the midst of a huge stealth gold buy (something I wrote about back in September.) In doing so I believe China will shock the market with a huge announcement that they’ve been stock-piling bullion — it could come tomorrow or it could come in the next few years…but either way it’s coming….”
If you’re wondering who buys gold then I hope these insights were helpful to you. The fact is gold has silently been on an upward tend for years now. The Chinese know it and someday soon we are likely to realise these gold charts and stats indicating who buys gold provided very telling signs in relation to the currency crisis today.