Vince Lanci
Vince Lanci Articles
Even though China is traditionally known as a price sensitive buyer in the gold market, their imports in April spiked 73% month over month to the highest level in nearly a year.
Big news out in the gold market, as the EU has just announced that they're delaying the rollout of the Basel 3 for another year.
As the gold price continues to rise, with the majority of the demand coming from the east, we are seeing where the pricing power is set change before our eyes.
We've seen the gold price come off of its all-time record highs in the past few weeks. But are we at the bottom yet?
Michael Hartnett just did his latest survey of his clients and reported that they thought gold was the most overvalued it's been in the last 20 years.
Despite the 'truce' in the trade war between the US and China, China was still buying more gold on the latest price dip.
The gold price is down $109 to start the week, with the big news being a report that China and the US have agreed to cut the tariffs.
The gold futures soared through $3,200 a few weeks ago, on the way briefly past $3,500, and since then the price has traded ‘violently neutral’ around that range.
The gold price is down again this morning. And as Vince Lanci reports, a big part of the reason why is record Chinese holiday liquidations.
After a furious rally that even saw the gold futures break $3,500 per ounce, the price has been due for a pullback.
