"Fall down 7 times, Stand up 8."
~ Chinese Proverb
Fall down 7 times, stand up 8' is also a Japanese proverb, the Chinese and Japanese are quite similar in many ways.
Now it seems at 1600s gold prices still seem hard to break 1700, that also means the big boys are still unable to distribute all their gold to claim total profit , so they still need to sell it lower (probably 1500s to 1300s) to completely distribute all their gold to liquidate their positions ?
because not everybody was willing to buy gold at 1900 and 1800, so prices dropped to 1500s for the big boys to take profit easily.
Our Maybank started Silver saving account is strong indication of Precious metal uprising again, congratulate to our controller wise move, to help keep gold & silver in rakyat..
China done this 2 years back, follow by vietnam, india , brasil, & all..
A good strategy to counter unscrupulous American USD.
When economy no good, people also don't have enough money to buy gold, but they need to sell gold to raise cash. I realize that Italy is one of the PIGS countries which has the 4th largest gold reserve in the world, when this country is in trouble, they will unload a lot of gold to raise cash, which in turn will depress the gold price far below the $1,500s territory.
Gold broke out the descending triangle and a lot of people are too early to be happy.
Saturday, September 1, 2012
