fxmade2trade
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Taking a bearish position for the mean time with the gold position declining, the Chinese are no longer purchasing mass amounts of luxury items due to the anti-graft drive. The exploitation of corruption within there own government has spurred a lack of faith, skepticism and trust in banks that are state run. With the citizens uneasy to invest in them in anyway, they wont be letting the government deplete there funds. In return has made the sales in gold down over 50%, this had slowed before just due to the reality that India and China wants the physical gold and not options or ETF's, even though they are more available and accessible. With the USD, temporally bulling ahead due to the rise of economic expansion in the U.S. may give us a sense of false security and has been pushing the price down dramatically. What goes down must come up...