Hot on the heels of of reduced demand in India, comes news today about increasing gold demand in China. It’s almost like a good ol’ poker betting war. India down 25%? China slides their chips forward with a 23.1% increase.
The latest in 8 years. Gee, maybe that would explain why gold just can’t seem to get out of bed these days. Low demand is, after all, low demand. And as every discount jeweler will tell you, when customers stop coming in the door you gotta lower price to entice them back in. Or something has to change in the environment, which you often don’t control. So here gold sits, piddling around between 1260 and 1290, testing the resolve of gold bulls – and bears.
It’s a classic market showdown with no winner yet in sight. You can read about the latest WGC report from our friends at .