China Gold Imports Increased 500 Percent in 2010
January 2011 by Chris Ralph
It’s been no secret that the prices of gold and silver have been moving upward at a fast clip in recent months. Gold has soared 27 percent so far this year. There has not been a significant drop-off in production, so it’s been evident that an increase in demand has been a part of the force driving the price upward.
On a similar vein, while the number of new non-farm jobs created rose by a modest 156,000 in September, it must be pointed out that Goods Production Payrolls rose by only 10,000 jobs while much lower paying service jobs accounted for the other 146,000.
I believe this is a powder-keg waiting to explode down the road—with potentially devastating effects on society—but positive implications for gold and silver.
We believe this possibility of a housing crisis is an important consideration in our prediction of a positive price market for the precious metals this year.
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