That is why China is trying to really lie about how much gold it has and how much it has been buying. Because if the truth was out there of how much gold they have, I think the price would already go up. If you really want to buy something, you do not want people to know how badly you want it or how much you want, because they are going to raise the price.
China is quietly trying to buy as much gold as they can because they need a lot of gold because they have a lot of U.S. Dollars. So they are trying to buy as much as they can, as cheaply as they can.
Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2017 (188)
- ► 2016 (252)
- ► 2015 (344)
- Deflation Is Not Dangerous
- Stocks Are In A Bubble But Can Go Even Higher
- Gold & Well Established Companies
- Crypto Currencies: Too Late To Get Involved
- U.S. Dollar Outlook: It`s Going Down
- New Technologies & Investing Opportunities
- The Best Hedge For A Stock Market Crash
- China Is Buying Gold On The Quiet
- What To Do When U.S. Stocks Start Blowing Up
- How To Get Better Products And Jobs
- Video: Gold and Currency Wars
- A Dollar Crisis Will Be Bullish For Gold
- Minimum Wage Increases & Automation
- Tax Inversions
- Build Your Portfolio With Inflation Sensitive Asse...
- The Price Of Inflation
- Will The Federal Reserve Do The Right Thing?
- Yellen Is Not Going To Raise Rates
- What Triggered The Market Sell-Off
- ▼ August (19)