Gold at $7,000 article goes viral in Chinese media

by Dan Collins, The China Money Report:

“Gold going to $7,000″, an article today in the Chinese media is going viral and one of the most viewed articles in the financial press. The article references American Jim Rickards and his concept of comparing inflation-adjusted gold prices. Most Chinese economists think that the price of gold should be approximately $ 2,400 / ounce, instead of the current $ 1,235.

The article references estimates by Jim Rickard’s that if Central banks had to to use gold to support its currency, then the price of gold will go to $ 7,000/ oz. That only includes the printing that has been done already, not the continuous printing of fiat currency that continues unabated by Central banks all over the world.

Read More @ TheChinaMoneyReport.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s