Foreign Affairs

TexasTowelie

(112,391 posts) Mon Apr 22, 2024, 10:26 AM Apr 22

China Is Surging Global Gold Prices; China's Floods; Pettis on Overcapacity - China Update

00:00 Introduction
00:18 Guangdong Flooding
01:48 China & Gold Prices
04:26 Pettis on ‘Overcapacity’

1 replies

= new reply since forum marked as read

Highlight:

China Is Surging Global Gold Prices; China's Floods; Pettis on Overcapacity - China Update (Original Post) TexasTowelie Apr 22 OP

Gold has briefly flirted with the $2400 barrier twice this month DFW Apr 22 #1

DFW

(54,436 posts)

1. Gold has briefly flirted with the $2400 barrier twice this month

Reply to TexasTowelie (Original post)

Mon Apr 22, 2024, 12:37 PM

Apr 22

It has backed off to $2330-$2340, but the way things are fluctuating, it could jump $100 in a day (virtually unheard-of until very recently) and surge over that level again. From what I hear from people I know that are in the bullion trade, there are more sellers than buyers on the retail end right now. I don't blame them. Almost no one at this point who sells would not be taking a profit, and jumping in at record highs is usually the mark of either a sucker, a daring risk-taker, or otherwise someone who knows something that everyone else does not (and a trader working for China's Central Bank could easily be such a person).

Reply to this discussion