Interesting article on seeking alpha today about gold.
Martin Hutchinson claims that China usually holds 10% of its reserves in Gold. Currently they only hold 1.5% in the yellow metal. With current reserves at $2 trillion, China might be in the market to buy $85 billion worth of gold. This equates to over 67 million ounces.
CAN THAT BE RIGHT?
http://seekingalpha.com/article/221761-three-ways-to-profit-as-china-causes-gold-prices-to-spike?source=email
Lundy, do you trade future options often? I'd like to learn more about them.
ReplyDeleteThanks JK