China is now tops in gold:
This supports the argument I made in my post on Nov. 27 that China's internal production is sufficient to soak up all of its internal demand. The spot price of gold on the world market is rising for many reasons. The unavailability for export of China's enormous gold production is certainly not the least of those reasons.
In my effort to avoid confirmation bias, note that the figures in the article are from an internal Chinese organization and thus subject to manipulation for reasons of the middle Kingdom's national pride.
Nota bene: Anthony J. Alfidi is long FXI, GDX, and ANV.
China, the world’s largest gold producer, may have record demand and output this year as jewelry consumption soars and miners expand production after prices
reached all-time highs, according to the China Gold Association.
This supports the argument I made in my post on Nov. 27 that China's internal production is sufficient to soak up all of its internal demand. The spot price of gold on the world market is rising for many reasons. The unavailability for export of China's enormous gold production is certainly not the least of those reasons.
In my effort to avoid confirmation bias, note that the figures in the article are from an internal Chinese organization and thus subject to manipulation for reasons of the middle Kingdom's national pride.
Nota bene: Anthony J. Alfidi is long FXI, GDX, and ANV.