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Chinese gold imports from Hong Kong in April rose 65% from a month earlier to a record 103.6...

Chinese gold imports from Hong Kong in April rose 65% from a month earlier to a record 103.6 metric tons. In the year through the end of April, Chinese gold imports have risen nearly 8-fold from 2011, according to Bloomberg. "We can't rule out the possibility that the central bank is buying gold," says Ag Bank's Wang Xinyou.
Comments (13)
  • China seems to be the biggest gold bug of them all. I wonder why? Fed up with the way the $ and € are going? Got other plans?
    Meanwhile the FED does it's best to let them have it at the cheapest possible price. Something they are going to regret big time.
    5 Jun 2012, 08:10 AM Reply Like
  • China is not the only country, the world is awash in paper currencies. Buy on dips for long term rewards and dont let wall st. spin the merits of gold ownership.
    5 Jun 2012, 08:35 AM Reply Like
  • The Chinese are smarter than we are. They are dumping the US dollars and buying gold with the cash. When the US devalues the dollar, the gold will skyrocket accordingly and the dollars will fall like a rock. They got us again!
    5 Jun 2012, 08:27 AM Reply Like
  • The Chinese are smarter than we are. They dump US dollars and buy gold. When the US devalues the currency, the gold will skyrocket accordingly and the dollars they dumped will be dropping like a rock. They got us again!
    5 Jun 2012, 08:27 AM Reply Like
  • Do You believe the weatherman when it is pouring out and he says the sun is shining?Central banks are printing paper money at break neck speed while they are buying gold.Look ,and use common sense.Don't pay attention to Wall Street's lies. Fiat money will soon collapse. Only commodities will have value.The easiest of these to own and store is gold.The writing is on the wall.
    5 Jun 2012, 08:50 AM Reply Like
  • For the past 5 years I have been accumulating gold.
    5 Jun 2012, 08:51 AM Reply Like
  • China and India are keeping the gold market from bottoming for the next leg up.
    We may not see 1,450 again?
    5 Jun 2012, 08:52 AM Reply Like
  • Do you believe the weatherman when it's pouring outside and he says the sun is shining? Central banks are printing paper money at break neck speed while they are buying gold.Use your brain and you can see what will soon happen to your money and equities. Follow China's example.Convert any wealth you have to gold
    5 Jun 2012, 08:56 AM Reply Like
  • whe cant rule out that these numbers are fake. I think they are met exporters of gold, not via HK of course.
    5 Jun 2012, 10:25 AM Reply Like
  • I think that they are buying for one reason only. The reason is that they must've missed Munger's rant against gold. How uncivilized of them to go against the prophet Buffett.
    5 Jun 2012, 03:09 PM Reply Like
  • i just purchased gold for the first time ever today!!! i hope it works out.....
    6 Jun 2012, 12:36 AM Reply Like
  • jpm,I'v been buying gold for 5 years and am way up. Be patient and don't panic sell .Gold will go much higher but it will also drop at times .Hold on to what you own and let it lift you to outer space.
    6 Jun 2012, 08:44 AM Reply Like
  • Buffet got rich on capitalism and he is a democrat - go figure?
    When the USD is replaced as the reserve currency his companies will maybe benefit.

     

    He is old but not stupid?

     

    Why else would China be building a gold reserve? Probably to push for a new reserve currency?
    7 Jun 2012, 08:32 AM Reply Like
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