China Devaluing the Yuan – Implications

Anything that starts 'Markets are reeling' can be safely discounted.
The use of such loaded and exaggerated terms in financial reporting is always a sign of PR for some point of view or other, not dispassionate analysis.

 

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I agree surprised about India, Thanks for the post on the gold chart. Living here in Houston seeing the oil prices and what I have seen over the years Gold will go to 800 a ounce and silver will stay low for several years , The only thing that will change this is a large war. Great time to be buying silver

 

Until China has sone semblance of a transparent business model and quits copying everyone else and making things for everyone else they will be a paper tiger. They are completely dependent on exports and their personal consumption is nil. They invent little and copyright infringement is their stock and trade. Alibaba sells knockoffs as real without apology and we go along as long as a buck is to be made. When they finally crash it will be really ugly, and they will crash. The clock is ticking.

 

Scare tactics by the Bullion dealers who want to sell their product.

 

I think some of you need to understand the difference between reserves and total gold holdings. Then take into account that neither of those account for the holdings of the population.

 

Then take into account that neither of those account for the holdings of the population.

Unless the governments wish to emulate the US in the 30s and effectively 'confiscate' with compulsory purchase of gold holdings by individuals, then only the official holdings are something the government concerned can use as a policy tool. You won't move the markets with grandma's wedding ring.

The 'reserves' of the population are possibly an indication, among many, of the per capita wealth of the nation, but I think it can be safely assumed that very little if any of it would be traded, most would be a rainy day fund or personal jewellery or cash savings in countries where the banking system has a dubious reputation or the politics are geared more to short term expediency than long term stability.

The recent price peak of gold did shake loose a lot of gold from the private owners, but in global terms this cannot have accounted for any great influence.

Now that prices are solidly back down, and maybe with further to go, any gold that comes my way just gets set aside in a box or drawer for 'whenever'.

 

Was that added swimming endurance due to the snake being right behind them?