PANIC BUYING of Gold in CHINA!

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REMEMBER TIANNANMEN

Port Moody, Canada

#1 May 14, 2013
China’s gold binge shows how freaked out its households are about the future

By Gwynn Guilford — May 13, 2013

China’s National Bureau of Statistics just announced that Chinese investors bought 30.3 billion yuan ($4.93 billion) worth of gold and silver jewelry sales (link in Chinese) in April, 72% more than than in April of 2012. For anyone but goldbugs, this piles on a couple more reasons to worry about the Chinese economy.
Capital outflows: a vote of “no confidence” against the Chinese economyThat surge in Chinese demand isn’t simply because gold is an inflation hedge—it’s also rooted in that fact that capital controls leave most Chinese people with few assets in which they can invest. This has created asset bubbles in everything from contemporary art to real estate. And gold has always been a fairly popular asset in which to invest—about 18% of global demand, by weight, came from mainland China in 2012, according to the World Gold Council (pdf).
But it’s weird that Chinese households would exchange yuan for gold right now. Aside from gold’s being such a risky asset, the yuan is also a pretty good bet right now. Here’s a look at the yuan-per-dollar exchange trend:

Since gold prices are denominated in dollars, as the yuan appreciates—it’s risen 1.3% against the dollar since the beginning of the year—Chinese investors in gold will see their profits erode. And on top of that, gold is just plain expensive to buy in China. Purchasing physical gold costs about 10-19 yuan per gram in transaction fees (link in Chinese), reports International Finance News.
No appetite for consumptionEvery yuan worth of gold purchased by Chinese households is a yuan they can’t spend on goods and services—spending that’s critical to China’s economic rebalancing. If you strip out “gold and silver jewelry” sales from the last month’s retail data, a 12.8% increase becomes a much less impressive 12.1%.
Distortions in import dataFinally, there’s some important context on how gold contributes to imports, via Chinese financial magazine Caijing (link in Chinese):

In the chart above, Sprott Asset Management shows that gold imports for the year ending in March accounted for more than one-third of the increase in total value of goods imported. Stripping out gold sales the way we just did for retail sales knocks the 4.6% year-over-year increase in March imports down to 3.0%. That’s bad news for a country that should be trying to even out its current account.
CCP FACTION WAR IN CHINA

Port Moody, Canada

#2 May 14, 2013
http://qz.com/84030/chinas-gold-binge-shows-h...

People in China know that the economy and Chinese Communist Party are both on the verge of collapse!

They're RIGHT!
LOVE CHINA DESTROY CCP

Port Moody, Canada

#3 May 14, 2013
You KNOW this is a PANIC because people in China are buying gold as it falls steadily in value daily!

Guaranteed to lose money, but also a guarantee that SOMETHING at least will be left, unlike the shaky RMB coupons controlled by the CCP dictatorship that could soon be completely worthless.
lct

Beijing, China

#4 May 14, 2013
It is the China's interest to keep gold price high as China is the biggest gold producer.

the bank of China is in position to buy 10,000 ton gold by cash.
lct

Beijing, China

#5 May 14, 2013
it is only less than $1 tln at current price.
lct

Beijing, China

#6 May 14, 2013
by the way, usa's gold in world bank(300 ton)is gone.
CCP are WEAK and STUPID

Surrey, Canada

#7 May 14, 2013
Done making feeble and incoherent excuses for the failures of the Chinese Communist Party dictatorship?
Good.

You KNOW this is a PANIC because people in China are buying gold as it falls steadily in value daily!

Guaranteed to lose money, but also a guarantee that SOMETHING at least will be left, unlike the shaky RMB coupons controlled by the CCP dictatorship that could soon be completely and utterly worthless everywhere!
It is Amazing

Kuala Lumpur, Malaysia

#8 May 14, 2013
When GOLD price drop, it is a good time to invest in Gold. China as the world biggest producer @ 500 tons and the world's largest consumers make the RMB an automatic choice for the World Reserve Currency, don't you think. Hahahahaha

Anyway!

Time for Mirotard to take his medicine.

The way she is going, she will be a DANGER to others as well as himself. She may run AMOK. Another one of those countless incidences in North America we heard so much about!

For all the HATRED and NEGATIVENESS she has invented and generated, she is destined for a MISERABLE and LONELY LIFE.

The 1.6 billion Chinese told him to get a LIFE.

Nothing will changed in the short time...

China will continue to accumulate WEALTH and the rich will choose whatever life or place of abode they wanted while USA will continue to BORROW more MONEY from her.
LOVE CHINA DESTROY CCP

Surrey, Canada

#9 May 14, 2013
You KNOW this is a PANIC because people in China are buying gold as it falls steadily in value daily!

See the DESPERATE CCP CLOWN above PRETENDING that "buy high, sell low" is somehow not completely stupid?

Guaranteed to lose money, but also a guarantee that SOMETHING at least will be left, unlike the shaky RMB coupons controlled by the CCP dictatorship that could soon be completely and utterly worthless everywhere!
CHINA HUMILIATED by CCP

Surrey, Canada

#10 May 15, 2013
lct wrote:
it is only less than $1 tln at current price.
Less than $1 a tin for pickled cabbage laced with toxins in China you say? How idiodic and off-topic!

You CCP CLOWNS are FUNNY!

LOVE CHINA DESTROY CCP

Surrey, Canada

#11 May 15, 2013
lct wrote:
by the way, usa's gold in world bank(300 ton)is gone.
Oh really. Did People's Daily (infamous worldwide for their constant lying and unbelievable stupidity)tell you that from their new, big penis-shaped headquarters?

So, do you think China has any gold at all that has not been stolen yet by the corrupt and unaccountable Chinese Communist Party dictators?

They have stolen everything else, so of course the extent of this CCP theft too is a "state secret"!

I'll bet there isn't a GRAM left!

HA HA HA HA HA HA HA HA HA!
CHINA CRASH is HERE

Surrey, Canada

#12 May 15, 2013
I wonder how much gold Wen Jia Bao stole from China?

We KNOW FOR A FACT he stole $2,700,000,000.00 USD in CASH!!!!!!
lct

Beijing, China

#13 May 15, 2013
CHINA CRASH is HERE wrote:
I wonder how much gold Wen Jia Bao stole from China?
We KNOW FOR A FACT he stole $2,700,000,000.00 USD in CASH!!!!!!
under Wen Jia Bao, China has got $10tln dollars. lOSERS.:)
New China

Zhengzhou, China

#14 May 15, 2013
gold is good thing.
JUNE FOURTH MASSACRE

Port Moody, Canada

#15 May 16, 2013
New China wrote:
gold is good thing.
Yes, it is a refuge for Chinese "FREAKED OUT ABOUT THE FUTURE" of China's INCOMPETENT DICTATORSHIP and COLLAPSING ECONOMY!

After all, RMB is worthless and unconvertable almost everywhere on earth ALREADY! Soon, it will be USELESS in CHINA TOO!
JUNE FOURTH MASSACRE

Port Moody, Canada

#16 May 16, 2013
Even China's state media must comment on the obvious PANIC in China! Note the feeble excuse about "New Year" purchases! Someone tell Xinhua it's MAY already!

Gold demand surges in China, weakens globally

English.news.cn 2013-05-16 20:00:40


BEIJING, May 16 (Xinhua)-- China's demand for gold jumped 20 percent to 294 tonnes in the first quarter of 2013, while global gold demand slid 13 percent in the period, according to a new World Gold Council (WGC) assessment.

The WGC recorded demand in China for 185 tonnes of gold jewelry in the first quarter, up 19 percent year on year. Chinese demand for gold coins and bars also hit a quarterly record of 110 tonnes, up 22 percent, according to the WGC report.

In contrast, global gold demand fell 13 percent in the first quarter to 963 tonnes. The value of the gold demanded globally stood at 51 billion U.S. dollars, down 16 percent compared to the corresponding quarter last year.

India and China, the two major driving forces of the world gold market, contributed a combined 62 percent of Q1 global jewelry demand, the WGC said.

Guo Bosi, director general manager of the WGC's investment department, said the increase in demand in China was due to traditional first quarter seasonal strength related to Chinese New Year purchasing.

China's appetite for gold has remained strong as a gold rush was prompted by an abrupt drop in the price of the precious metal in April. Queues of people have lined up at gold stores around the country to purchase large amounts of jewelry and gold bars.

Experts said the price slump gave common Chinese a window to invest their increasing wealth, though a large number of financial institutions and researchers believe that gold is greatly overvalued.
JUNE FOURTH MASSACRE

Surrey, Canada

#17 May 16, 2013
"Queues of people have lined up at gold stores around the country to purchase large amounts of jewelry and gold bars."

Yep. That's a panic.
lct

Beijing, China

#18 May 16, 2013
India has no hard cash left.

we are purhasing her gold right now, by rmb.

that was a direct result of service-orined economy:

everything her need has to buy from outside.
JUNE FOURTH MASSACRE

Surrey, Canada

#19 May 16, 2013
Meanwhile, in China..."Queues of people have lined up at gold stores around the country to purchase large amounts of jewelry and gold bars."

Yep. That's a panic.
It is Amazing

Kuala Lumpur, Malaysia

#20 May 16, 2013
JUNE FOURTH MASSACRE wrote:
Meanwhile, in China..."Queues of people have lined up at gold stores around the country to purchase large amounts of jewelry and gold bars."
Yep. That's a panic.
Matter of INTERPRETATION!

Promoters called it SALES "UNBEATABLE GOLD SALES". Hahahahaha

People only PANIC when they have NO CASH! Hahahaha

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