Aug 14


Gold Jumps After China Reveals It Bought Another 19 Tons In July (ZeroHedge Aug 14, 2015):

Putting what China has just done in very simple context: China announces an increase in its gold holdings of over 58% (June and July)… and then it devalues its currency by nearly 5% in one week. 

Even the most brainwashed Keynesians should be able to figure out what is going on by now.

One wonders how long until millions of Chinese citizens, badly burned on the stock market bubble, decide it is time to put their savings in gold once again.

But while none of this comes as a surprise to us, or our readers, what was perhaps more notable, was the latest plunge in Chinese FX reserves, which tumbled from $3.694 billion to $3.651 billion, suggesting in July China sold, via Belgium, another $40 billion or so in Treasurys just before China announced its devaluation. Expect confirmation of the recent Treasury selloff by “Belgium” when the Treasury releases its next TIC data update.

Gold & Silver Suddenly Slammed As Dollar Surges (ZeroHedge Aug 14, 2015):

Around 1030ET, The US Dollar suddenly went bid, driving broad-based commodity weakness. Silver had been creeping higher all morning but it appears someone wanted to keep it below its 50-day moving average and has thrown 1000s of contracts short at it, slamming the precious metal to the lows of the day… Gold also saw a sudden heavy volume monkey-hammering…


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One Response to “Gold Jumps After China Reveals It Bought Another 19 Tons In July, … Then … Gold & Silver Suddenly Slammed As Dollar Surges”

  1. Squodgy Says:

    The manipulation of the Gold price explained…..

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