PING!
The Chinese Gov’t wants the Chinese to buy gold. However, prices are so high that the Gov’t itself cannot buy that much unless they cash in US Treasuries and take a loss. So, the next best thing is to encourage their citizens to buy gold. It may be a smart move, but if the Chinese Gov’t were in a position to buy the gold themselves, they would.
That’s great! Looks like my stores of metals will be going up.
Hope I can sell them at the right price when they come back down.