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Subject:
China Urges Citizens to Buy Gold and Silver
YelliChink
9/9/2009 1:05:39 AM
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link
The big difference here is that it is China's government which is advertising the ?opportunities? in gold and silver and it is urging the Chinese people to buy gold and silver.
An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):
China has introduced its first ever investment opportunity for silver bullion. The bars are available in 500g, 1kg, 2kg and 5kg with a purity of 99.9%. Figures show that gold was fifty times more expensive in 2007 but now that figure has reached over seventy times. Analysts say that silver has been undervalued in recent years. They add that the metal is the right investment for individual investors and could be a good way to cash in.
It is only in the last three years that the Chinese government significantly relaxed the rules for precious metals buying for its citizens. Given that the Chinese people (like most of Asia) already had a greater appetite for gold and silver than people in most Western nations, the explicit urging by the government itself for people to load up on bullion clearly implies the expectation of a strong future for precious metals. With a population greater than 20% of the world's total and an abundance of savings, this could easily become a self-fulfilling prophecy ? especially given the tiny size of the precious metals market, relative to many other commodities.
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Commies are betting US dollar to collapse. |
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