Monday, November 7, 2011

China's Gold Imports Jump 6 FOLD in September. China Stacked the Smack- Did You??

Did you Stack the Smack, or did you miss gold's correction from $1923 to nearly $1500 over the previous 2 months? 
China sure as h*** didn't, and you can bet that the banksters didn't either. 
Quit attempting to predict the movements of gold and silver, and RESPOND to price weakness by accumulating professionally into price weakness.  If you don't have a strong enough stomach to buy the dips (Stack the Smack) then allocate a monthly purchase program on a specific date each month without regard to cost.  At least that will prevent you from price chasing into rallies.

The FT reports:
China's September Gold Imports Jumps 6 Fold

Chinese gold imports from Hong Kong, a proxy for the country’s overall overseas buying, leapt to a record high in September, when monthly purchases matched almost half that for the whole of 2010....
After hitting a nominal all-time high of $1,920.30 a troy ounce in early September, the yellow metal fell to a three-month low of $1,534 an ounce later in the month. Chinese investors snapped up the metal as prices fell.