China Opens the Flood Gates for Gold and Silver

This article posted on the Motley Fool  by Christopher Barker talks about China's growing lack of faith in the U.S. dollar and believes that the U.S. has strong incentives devalue the dollar.  Chinese officials expressed concern over falling U.S. Treasury values, which will weigh heavily on their current holdings and may dissuade them from purchasing more.  China has taken actions to increase gold import/export activity and is extending credit to producers of bullion and for overseas acquisitions, which could be used to ensure a steady supply of gold to China.  This move should bode well for precious metals in the coming year.   [ read more... ]