Friday, November 10, 2006

The reason for yesterdays gold increase

China 'to boost gold for years to come'

Gold surged more than $19 an ounce to $635 in New York trading after China's central bank chief said the country was eyeing "lots of instruments" as alternatives to US dollar reserves

Posted by sold 2 rent 1 @ 03:23 PM (434 views)
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4 thoughts on “The reason for yesterdays gold increase

  • (from a previous post)
    Nohpc,
    Sure, there is evidence that gold could go either way in the short term.
    Look at what happened in the 1970’s

    http://www.zealllc.com/c2004/Zeal090304A.gif

    Gold halved in “stage 2” before rocketing off into the stratosphere

    Long term this is a secular bull for gold – people with pacemakers should not buy gold.

    I agree with your comments about silver being a better investment.
    Does anyone know of a unit trust that caters for silver mining stocks?

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  • The telegraph is a Gold VI. Go check out goldpricecrash.co.uk
    heh just kidding

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  • With Chinese cities being polluted yet buying more and more cars, I suspect the Chinese will bring in catalytic converters.

    These run on platinum etc. I was wondering where I could buy some (only around 5K GBP).

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