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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on September 07, 2009, 12:58:17 PM

Title: China may be guaranteeing a floor in the price of gold
Post by: Bindare_Dundat on September 07, 2009, 12:58:17 PM

This could be another hit to the dollar.

China alarmed by US money printing

The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

"Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added.

The comments suggest that China has become the driving force in the gold market and can be counted on to buy whenever there is a price dip, putting a floor under any correction.

http://www.telegraph.co.uk/finance/e...-printing.html

Title: Re: China may be guaranteeing a floor in the price of gold
Post by: boonasty on September 07, 2009, 01:03:54 PM

link doesn't work for me

Title: Re: China may be guaranteeing a floor in the price of gold
Post by: Bindare_Dundat on September 07, 2009, 01:08:27 PM

Here ya go.

http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html

Title: Re: China may be guaranteeing a floor in the price of gold
Post by: boonasty on September 07, 2009, 01:27:26 PM

Quote from: Bindare_Dundat on September 07, 2009, 01:08:27 PM

Here ya go.

http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html

thanks