Tuesday 23 August 2011

PAGE opened end June

Pan-Asian Gold Exchange, the new physical-only metal exchange (Kunming, Yunnan province, China) opened at the end of June.

The price of gold appears to have experienced a step-change in trajectory on the chart from the start of July.

In other news, Chavez decided to move Venezuela's gold from the US/UK/Europe, into more friendly locations (China/Russia -- or, "Asia" if you prefer..?). I wonder how many others are doing this too, less publicly?


Motley Fool said...

I like the lines. :p

mortymer said...

I would add that Chavez also took off his country money from BIS system and took it out to BRIC countries CBs in a single move. Jim Richards has a comment about it on kingworldnews.

Mortymer said...

One more issue - it was told that Chavez built a new safe place for their gold - this does take quite a time to do that - this shows how much behind we are... he made the announcement when all was ready and the other side had no other choice.

DP said...

Going to take sub-$1700 to break that uptrend line today what what what?

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