India & China: hoarding gold and shunning dollars
Nov 9th, 2009 | By Byron King | Category: Featured, Financial News, Gold MarketByron King, Whiskey and Gunpowder
Let’s review the big picture for gold. What’s going on? And what are people saying?
For much of 2009, gold traded in the range of low-mid $900 per ounce. There was a dip over the summer, with a strong upswing starting in September. Gold is now trading well over $1,000 per ounce, in fact just under $1,100.
Turns out that the government of India was buying gold in mid-October.