Quote:
Originally Posted by woj
mining cost is irrelevant, only demand matters, low demand = price sinking...  |
Quote:
Originally Posted by Milfer
Its all about demand vs supply
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Not in this case. People who short gold are moving away from it, that's it. The east is buying as much gold as they can get their hands on, at any price. So are Central Banks. The demand is still huge. In fact, it's even more since it's down.
In China right now they have roped lines outside of many gold shops with 100s if not 1000s of people in line. Keep in mind, China is 1/3 of the world's population. And we're not even talking about the rest of Asia or India who's also buying as much as they can carry.