another more important and fundamenta reasons is that china has allowed its retail investor to invest in gold.
Cause they are stuck with $ assets.. so they are buidling up gold reserve in country (wish our govt also takes some action like that).
China has already committed to buy the gold that IMF is planning to sell to raise cash.
Estimates is that by next year, china will be overtake us in Gold demand and will produce #1 demand for gold and we being at #2.
And when china moves (like a big elephant), it can move the world.
ofcourse as $ goes down, gold will go up.. and maybe in future replace $ as reserve currency for global trade.
Happy Trading
Cause they are stuck with $ assets.. so they are buidling up gold reserve in country (wish our govt also takes some action like that).
China has already committed to buy the gold that IMF is planning to sell to raise cash.
Estimates is that by next year, china will be overtake us in Gold demand and will produce #1 demand for gold and we being at #2.
And when china moves (like a big elephant), it can move the world.
ofcourse as $ goes down, gold will go up.. and maybe in future replace $ as reserve currency for global trade.
Happy Trading
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