Analysts: Gold Rush In China Is Propping Prices Up

[sirty143]

Analysts: Gold Rush In China Is Propping Prices Up

The interest and high demand for gold products in China is one of the factors that is propping the price of the precious metal up in international markets. Several analysts believe that the loss of confidence in traditional investment options... See more for yourself here.

Your opinion is greatly appreciated.

[TomPluz]

As more and more people can feel the many choking points of the global economy - and as felt in China's economy - investors small and big would be looking for the best, solid and viable alternatives and since Chinese may have a hard time getting into Bitcoin they are now turning to gold. As pointed and suggested by Robert Kiyosaki, we need to be serious with gold, silver and Bitcoin in no particular order of preference. One article I read suggested that gold will one day be reaching $10,000 per ounce and surely the future of gold is looking good as "...the loss of confidence in traditional investment options in China, and the geopolitical factors and U.S. sanctions have contributed to this end." So what should we do? Buy gold and silver together with Bitcoin, of course. Now, where is my money?

[Baofeng]

I think it's very simple, they are buying gold not just to diversify but to also to used it as hedge and as we all know that Gold has proven itself already. And if I still remember my history class, after the war, gold was premium and it was being used to pay or reconstruct what has been destroyed during the war. Not saying, that there will be a war that the Chinese is preparing, but who knows, their government is now making contingency and preparing. And as I looked at the current price it says it's up today.

[Captain Corporate]

I mean when you think about how the fiat world is doing terrible, getting gold isn't really a bad idea. I am not saying that it is better than bitcoin, I still prefer bitcoin and the moment when Chinese stop caring about what their government says and starts buying bitcoin in billions, we are going to see bitcoin price reach new highs that has never been seen before. However, until that moment gold seems like the alternative that is fine, because we can't really consider fiat as the way to go. China is not really loved by many in the west neither, so it is really hard to keep their finance going with just gathering debt from all the smaller nations forever.

[yhiaali3]

As more and more people can feel the many choking points of the global economy - and as felt in China's economy - investors small and big would be looking for the best, solid and viable alternatives and since Chinese may have a hard time getting into Bitcoin they are now turning to gold. As pointed and suggested by Robert Kiyosaki, we need to be serious with gold, silver and Bitcoin in no particular order of preference. One article I read suggested that gold will one day be reaching $10,000 per ounce and surely the future of gold is looking good as "...the loss of confidence in traditional investment options in China, and the geopolitical factors and U.S. sanctions have contributed to this end." So what should we do? Buy gold and silver together with Bitcoin, of course. Now, where is my money?

I agree with you, your analysis is very logical. Yes, most countries in the world suffer from economic problems, the most important of which is inflation and traditional paper currencies losing their value, including the Chinese yuan, of course. Therefore, it is natural for people to turn to finding an alternative.

But as you mentioned, since China bans Bitcoin, the best option for the Chinese is to turn to gold and precious currencies, although I expect that a large portion of them buy Bitcoin secretly from the Chinese governments.

China has been one of the biggest markets for cryptocurrencies and I don't think people will give up on it easily even if the government bans it.