Thursday, February 21, 2013

Gold Drops, but Gold Panda Prices Go Up

The machinations of the paper gold traders on Wall Street may have pushed gold down toward $1550 per ounce, but Chinese buyers see that and conclude GOLD IS ON SALE!  买买买!Buy, Buy, Buy!

A post Chinese New Year buying rush into gold pandas is under way.  Increased promotion of Panda coins in particular is increasing awareness in China.  Thin dealer inventories mean that prices will go up on many coins.

The low gold price is prompting big increases in all physical gold sales across the board.  You local coin dealer is probably very busy.  This is very bullish.

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