Gold Premium Surges In China – Wise ‘Aunties’ And Wealthy Buying
Gold inched down today after yesterday’s 2% gain. Gold was higher in Australian dollars after the Aussie dollar fell on concerns about the Australian economy.
Monday’s economic data showed U.S. manufacturing activity had slowed to the lowest level in almost 4 years. The still fragile nature of the U.S. economy will support gold.
Poor economic data is confusing the bulls who continue to under estimate risk.
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