In The News Today

Posted at 9:36 PM (CST) by & filed under General Editorial.



Jim Sinclair’s Commentary

Want high priced oil? Here are two ways – sanctions, and mention the possibility of World War 3.

“Saudi Arabia is reportedly nearing its oil output capacity limit and may have little room to respond to potential shortages caused by sanctions on Iran. Currently pumping just under a record 10M bpd, the country has an on-paper capacity of up to 12.5M bpd, but hitting that target might involve extracting heavy product nobody wants.”

Jim Sinclair’s Commentary

You will never know. However, it is my opinion that the Chinese government’s significant support for citizens buying gold might just be to build another inland inventory for future use.

China’s Gold Imports From Hong Kong Surge to Highest Ever‎ – PBOC Buying?
11 January 2012

Gold’s London AM fix this morning was USD 1,641.00, GBP 1,063.51, and EUR 1,286.25 per ounce.

Yesterday’s AM fix was USD 1,627.00, GBP 1,051.91, and EUR 1,271.49 per ounce.

Cross Currency Table

Demand for gold bullion in China continues to surge.

Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October. This is a 20% increase from the already high number seen in October and a 483% y/y increase.


The run into Chinese Lunar New Year has again seen higher than expected Chinese demand for gold and China’s voracious appetite for gold is surprising even analysts who are positive about gold.