No Changes In Gold Model 1 & China Is Buying Lots of Gold
No changes in The Gold Model.
It appears that China is buying a lot of gold. This is not the first article that has been posted about this. The Chinese government is encourgaing their citizenry to buy gold.
The article believes that citizens are buying as a hedge for capital flight. Wealthier Chinese are moving money out of China. They are concerned about a China crash do to ghost cities and recent declines in real estate prices. The average person in China's only alternative is to buy gold to hedge. In many countries in Asia including India, the average person uses gold to try to hedge against inflation and currency devaluation.
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