Friday, September 10, 2010

Who's Buying Gold?

No, I'm not a 'gold bug.' But maybe one should look... buyers from the IMF continue to be monetary backwaters such as Mauritius, Sri Lanka and India... and now Bangladesh: at least ever more Asian countries are starting to get the gist of what is happening with the dollar. And once China is discovered to be directly or indirectly buying IMF gold, the all bets are off on the gold price hitting $1,600 in under two years.

Well, if you REALLY think that Bangladesh is NOT a front for PRC...

1 comment:

Hal (GT) said...

Both gold and silver deserve watching right now. The last time of some purchases of gold by central banks caused a slight pause and fall in the market but then the price went off to the races.

It's going to get interesting, that's for sure.