Gold News: Find Out Who China is Selling Gold To?

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Wow, not even half into this morning’s first cup of coffee, and we’re gobsmacked already. According to news sourcesChina has been selling gold to — well, you should really guess first, because you might not believe it.  OK, we’ll spill the beans.

Yes, it’s Russia, China’s sometimes sworn enemy, or at least swearing-at foe on the other side of the mountains. Though in a way it kinda makes sense. There are lots of reasons why China might want to sell some gold to Russia, but then lots of reasons why they wouldn’t.

Here’s your Gold Enthusiast’s take: In the long game of strategy that China likes to play, they might simply not see Russia as a significant threat in the future, but as a relatively large pawn they might be able to turn into an ally.  For use at critical times of course, such as ganging up on the US Petrodollar (which we wrote about yesterday).

In any case, just pondering the why’s and how’s of China selling gold to Russia has already made your Gold Enthusiast’s morning. You can get some details, along with some controversies in the reporting and such (What? News reports out of China might not be accurate?  say it ain’t so…) in today’s featured article.

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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