There are usually three views on gold. The first comes from the gold bugs, and goes like this: “Buy Gold, It’s Going Up!”
The second is from the naysayers, who say Gold Is A Useless Relic, It Has To Go Down. The middle ground is Gold Is Sometimes Useful But Sometimes Not. Of course, no one wants to see the world economies truly meltdown, because everyone loses in those situations. What we really want is to profit from changing gold prices, whether up or down. Preferably up, as gold trading tends to have a crummy record on the downside. So today, let’s look at one of the major supports for gold prices on the downside: China.