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Hmmm..precious metals

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Not applicable
Now that I am thinking again outside the box, and usually its too late ;-), I am sitting dissecting some info and wondering how much the Chinese new year influence had to do with precious metals, specially GLD and maybe a little Plat, prices of late. After all the custom is to give lavishly for good luck and prosperity for the year to come and usually new bank notes, coins and other jewellery is the order of the gifting parade. And it has to BE SHINY NEW for the gift to be acceptable to the giver (I doubt the receiver cares if a gold coin is shiny and bright or old and valuable ;-) ). So even on a small percentage scale how much influence does this time have on sales/accumulation. After all we are talking a billion plus population (and lets say 30% can afford luxuries) that's still a whack load of buying. Mere trifle thoughts but....
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3 REPLIES 3
Fredsed
Super Contributor
West sells, East buys. West sells more (going broke). East buys more (getting rich). To support velocity, you go short (that would be West) Ever gone West before? I have. Its East for me in future.
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Not applicable
Was thinking along the same train this afternoon when I started looking at the markets east and the historical data around just before and after new year celebrations.
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PaulC
Super Contributor
not sure of your timeframe but I am pretty darn certain that the gold, silver and oil ETN's will be higher at year end. For fun ill speculate and say oil is the best performer, then silver then gold :) - P
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