Gold traders are the most bullish in two months after mainland China imported the most metal ever from Hong Kong and investors bought U.S. bullion coins at the fastest pace in more than two years.
Eighteen of 23 surveyed by Bloomberg expect the metal to gain next week, the highest proportion since Nov. 11. Mainland China imported almost 102.8 metric tons in November, valued at about $5.4 billion, trade data on Jan. 11 showed.
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For thousands of years Precious Metals (PM) such as Gold (Au) and Silver (Ag) have been utilized as real money for exchange, wealth store, and metric of value. While I am NOT an advocate of one single commodity backing our money (like a gold standard), I do believe that the price trend of PMs are the most important indicators of the value of fiat money, plus the crimes of corrupt banking corporations and governments that manipulate PM prices. The "Canary in the coal mine" is Gold - AuCanary.
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China Hoarding of Gold Turns More Traders Bullish
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