traderdannorcini.blogspot.com / By Dan Norcini / April 15, 2014
Last evening I posted the news concerning the World Gold Council’s report about Chinese gold demand for 2014. Please see that post for the details.
Also, chatter continues to surface that China’s economy is slowing. Now whether or not that is indeed the case can be argued, ( I tend to think that it is because of what is happening with the price of copper ) but many traders are viewing such talk as bearish for the price of the metal. The reason? If the economy slows the thinking is that there will not be as much money around with which to buy gold. Along this line is news out of China that its money supply grew only 12.1% in March compared to the same period the previous year. The People’s Bank of China has a target of 13% growth. This is the first time since April 2012 that the target has been missed.
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Last evening I posted the news concerning the World Gold Council’s report about Chinese gold demand for 2014. Please see that post for the details.
Also, chatter continues to surface that China’s economy is slowing. Now whether or not that is indeed the case can be argued, ( I tend to think that it is because of what is happening with the price of copper ) but many traders are viewing such talk as bearish for the price of the metal. The reason? If the economy slows the thinking is that there will not be as much money around with which to buy gold. Along this line is news out of China that its money supply grew only 12.1% in March compared to the same period the previous year. The People’s Bank of China has a target of 13% growth. This is the first time since April 2012 that the target has been missed.
READ MORE
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