China tells people to buy gold & silver

[First77]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

China has $2 Trillion to $5 Trillion for Gold ?? Chinese government told/encourages its citizens to buy gold and silver in 2012.

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[akishang]

I don't see any problem with that. Our family business is about gold and silver since the 90's and I think, 2012 is the year were gold and silver has its highest price. I think China promoting gold and silver works because the demand is really high that time. The sad thing is that it declined from 2013 until today. The demand for gold and silver goes down. People just want to buy smartphones and gadgets instead of jewelries.

[S4roZa]

At the moment, the movement of the yuan currency is being corrected where there is potential Beijing will buy more gold.Because China is the world's largest gold consumer.

[fauzan Ichsan]

i guess there is nothing strange with china, because we know that gold is an investment tool has been a long time ago. so the government may suggest to invest safely

[First77]

I think, 2012 is the year were gold and silver has its highest price.

Silver fell to $9/ounce. China still waiting to buy gold and silver.

[pinkflower]

I think, 2012 is the year were gold and silver has its highest price.

Silver fell to $9/ounce. China still waiting to buy gold and silver.

The article was also written back in 2009. I think China was maybe playing the role of a pumper, then dumped their gold and silver holdings on the market 2 to 3 years later. Look at the gold and silver charts. It tells the same story.

[yakafi]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

it has effected the bitcoin price to be done. the negative news has reduced demand. so ,we will see. I hope bitcoin will rise

[bololord]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

i think this is not goood for cryptocurrrency because maybe the value of cryptocurency will going to down again if it happen or another fud by china? they want o decrease the value of bitcoin so they going to buy a lot of bitcoin or crypto after the pump they will going to sell it they are fcking whales they manipulated and they are fraud!!

[qiman]

China is accumulating a big amount of Gold and once they have enough they will be able to control it. I am surprised though that they are so into metals but so against Bitcoin and other altcoins but I think this might change if they begin to promote ONLY THEIR ALTCOINS so they keep all the wealth within Chinese hands. Think about it, China has used a protectionist policy for aeons so I doubt it would change fiscal policies now. China will only allow what will strengthen it's own national currency and decentralized currencies do not benefit the Chinese Central Government or the Central Bank, but buying gold does, because they own a big amount.

[ganlianshifu1]

Because the Chinese government prohibits the transaction of BTC and digital encrypted currency!

The government has asked people to buy gold and silver to resist the impact of digital encryption.

[traderethereum]

Because the Chinese government prohibits the transaction of BTC and digital encrypted currency!

The government has asked people to buy gold and silver to resist the impact of digital encryption.

maybe this could be the reason for the government that tells people to buy gold and silver and I think they want to collect the crypto as much as they can. so when all the people distract their attention to buy gold and silver, their government already have the crypto with the big amount and when the gold and the silver is too expensive to buy, people will stop to buy and they will search another source to buy. and then the government will tell to them that they allowing cryptocurrency as a new currency so people can buy right now but people can be too late because the crypto price already increases and their government have a large amount and ready to sell.

[IndzheborgC]

There was such a moment (the beginning of the 21st century), when Chinese peasants bought copper blanks and hid them under their house for a rainy day. It is possible that silver will grow in price as a crypto coin, if there is a practical application as before photographing.

[crazymelons12]

Gold and silver are both good investments. I agree that it doesn't have to be a problem to invest in these things since it had values that are stable which is very important to avoid loses.

[supermine]

Some major events as seen by China.

More....

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.

An article from mining web-site, Mineweb quotes a program which appears on China's largest (state-owned) television company, promoting bullion-buying in general, but stressing that silver is currently the best value for investors (no surprise to regular readers):

https://seekingalpha.com/article

Chinese government told/encourages its citizens to buy gold and silver in 2012.

Maybe an strategy to dump the crypto currencies.

But investing on the Gold and Silver is not a bad idea because it is been considered as the best investments for centuries but bitcoin is a new technology and different from gold investments so the people who understand about bitcoin will choose crypto investments other than any type of investments because bitcoin recorded $2000% last year but in gold that maybe less than 100% per year so its now our choice which one to choose to invest.

[timerland]

I see a move towards precious metals soon, after all its most recent bull market for precious metals have been in 2011, more than seven years ago when the bubble burst. After that it's been endless dumping and now we're seeing around $17/ounce.

It has actually hung around that level for a while now. I think it's finding a bottom there and is soon going to start a new trend.

Especially with all the money rushing into crypto last year, now that the prices have cooled down a lot, I can see a temporary shift from some crypto investors to gold/silver(especially silver since it is more easily accessible). So yeah, China is definitely not wrong in this regard, in fact they are probably encouraging their citizens to do the right thing imo. Probably trying to get as much precious metals into their economy as possible as well.

[hiker]

Precious metals and crypto are both similar in scarcity and thus are considered an alternative (or valuable addition) to fiat investments.

This is why they in a sense compete for the similar audience and money. They are competitors for fiat. When fiat stoped being pumped into crypto it may find its way into precious metals and vice versa.

Knowing that we can in some way predict the future market dynamics.

[First77]

I see a move towards precious metals soon, after all its most recent bull market for precious metals have been in 2011, more than seven years ago when the bubble burst. After that it's been endless dumping and now we're seeing around $17/ounce. It has actually hung around that level for a while now. I think it's finding a bottom there and is soon going to start a new trend.

It could be China that takes Gold to $1800/ounce and Silver to $60/ounce

[RamonBTC]

I do think that’s the best move and if I’m not mistaken this is the start of making a currency backed by gold and silver that Russian and Chinese rumors about as to replace US currency. It’s so coincidental or that this news is probably true. But with this, the possibility of cryptocurrency being affected is minimal as they already an irrelevant country in virtual world.

I’m not a fan of precious metal as investment, so I think I’m good with it.

[First77]

I do think that’s the best move and if I’m not mistaken this is the start of making a currency backed by gold and silver that Russian and Chinese rumors about as to replace US currency. It’s so coincidental or that this news is probably true. But with this, the possibility of cryptocurrency being affected is minimal as they already an irrelevant country in virtual world. I’m not a fan of precious metal as investment, so I think I’m good with it.

Gold is $1340/ounce and Bitcoin is $6,800. Think about it after reading the news...... See below  

[RamonBTC]

I do think that’s the best move and if I’m not mistaken this is the start of making a currency backed by gold and silver that Russian and Chinese rumors about as to replace US currency. It’s so coincidental or that this news is probably true. But with this, the possibility of cryptocurrency being affected is minimal as they already an irrelevant country in virtual world. I’m not a fan of precious metal as investment, so I think I’m good with it.

Gold is $1340/ounce and Bitcoin is $6,800. Think about about reading the news...... See below  

I know and you think that matters? The price, when we all know that China is critical to cryptocurrency not like before. Are you serious they gonna promote crypto than gold that they’re against with.

They would rather convince Chinese investors to their advantage and as a former communist country the government have the power to do so. Easily.