Gold Price Dropped 30%! Chinese Gold Exchange Sold Out! Is It Time To Buy?

Gold traded as low as $1,321 on April 16th 2013, down around $568 from its Aug 2011 high of $1,889.  It was gold’s biggest drop in years.  2 yr gold price chart

Soon as the price of gold dropped 30% from it’s high, both the Chinese and the Indians were waiting in line to buy up all the gold they can get their hands on. The Chinese Gold Exchange sold out of gold bullion and have to wait for imports from Switzerland and London.  Gold bars have sold out in many gold dealers in China.  Many of the Chinese view this gold price drop is a huge buying opportunity.  In India, some of the gold market saw their sales doubled!  In the U.S., the US. Mint ran out of the 1/10th of an ounce American Eagle gold coin after demand surged.  The sales of the smallest American Eagle gold coin were suspended.  Total Sales of American Eagle gold coins almost tripled from March according to it’s website.

Chinese buying gold

The worlds #1 and #2 gold consumers are buying up all the gold taking advantage of this recent gold price drop!  Most of them are buying gold to hedge coming inflation from central banks around the world’s non stop money printing.   Is it time for you to buy some before the price of gold skyrocket?

 

Related topics

Hyperinflation,Currency Collapse

 

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