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 a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. 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 keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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