read some reports this morning. Some look good and some not so good.
The good is, the fed has run out of bullets to suppress the gold market. Apparently there will be no QE 5 as attention turns to possible bail out of insurance companies and the looming mega billion dollar student loan situation.
Last year China curtailed its buying of metals except for gold because their growth dropped below 8%.
However two things happened, 1. the growth stoped dropping and seems to have stuck at around 71/2% reestablishing a floor in their continued growth. 2. they have authorized and established a gold spot market where the Chinese citizens can now legally trade gold. (last year China bought 1/3 of all gold sold world wide because of the FED suppressed price. As the strength of the FED declines in the world currency market so fades their ability to artificially control commodity prices.
The bad: Turkey, a huge player in the scrap steel market is still an un certain player in the forseeable future because of political uncertainty and military unrest around them.
Both China and Japan will this year sell off some of their copper stock piles. just my .02 gleaned from market reports this week.
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