SPDBRNR – Eyes Wide Open
Sports, Politics, Financial Markets, Silver & More

China, Gold, and Silver

Gold closed at an all-time weekly high on Friday, $1,006.  Silver closed 16.78.  The ratio is down to 60, lowest in 2009. 

China has this year announced their large increase in gold reserves already, and now they are openly encouraging their very thrifty citizens to buy gold and silver…this is tremendously bullish for precious metals (1.3 billion Chinese), and at best, tremendously murky news for the dollar and America.  In a very related story, the dollar index is trading at its lows for the year. 

I think this time gold & silver break through…the trade is getting more and more obvious.  By the time gold gets to $1,300, silver will likely be at $25. Read this article for a great analysis of China and their activity & attitude with precious metals.

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