Katchum's  Instablog

Katchum
Send Message
Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
My blog:
Katchum's Macro-economic blog
  • December 2012 China Gold Imports From Hong Kong Hit Record High 1 comment
    Feb 5, 2013 5:36 PM | about stocks: GLD

    As predicted here, China bought gold like there was no tomorrow in December 2012 as gold prices fell to a record low. They bought 114.4 tonnes. I believe January will be a good month too.

    (click to enlarge)
    Chart 1: China Gold Imports from Hong Kong

    Net imports were 84.7 tonnes. That's 84.7/114.4 = 74%. That's a record high, even higher than the 68% in November 2012. This means China isn't even trying to export its gold to Hong Kong anymore. It's scooping up all the gold they produce!

    I say: "Follow the money!"

    Disclosure: I am long AGQ.

    Stocks: GLD
Back To Katchum's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • The_Hammer
    , contributor
    Comments (5092) | Send Message
     
    The masses will care when it is to late
    5 Feb 2013, 09:10 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.