Looking at how the “Gold market turns to China for support,” Tim Iacono recaps a flurry of activity in Asia last week that sent precious metals’ prices up and then down, but argues that “without a doubt, the most important gold-related news to emerge from China last week was of surging gold imports. As has been the case over the last year, demand from China is likely to play a key role in supporting metal prices and, eventually, pushing prices up and out of their recent trading range….It appears as though precious metals markets are in need of some sort of catalyst and, as was the case last year, surging gold demand in China could be just what these markets need.”
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This entry was posted on Monday, January 14th, 2013 at 11:25 pm and is filed under CFTC, China, Federal Reserve, General Economy, Gold, Short Sellers, Silver, U.S. Congress, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.