Views: 1365|Replies: 0

Gold Prices 2013 CNY [Copy link] 中文

Rank: 3Rank: 3

Post time 2015-7-25 10:28:31 |Display all floors
remember when every news organization worth it's salt reported Chinese investors wer buying up and gold they could--anywhere........the investors (gamblers) were confident the price would hit the 2k usd mark in 90 days.--Thats 640 rnb per gram...99% of buyers purchased in the 275 -290 per G expecting to make a killing and instant riches.

Smash through to todays market (HK)--a gram is worth 220 rmb and it is not expected to rise above 240 rmb by close of year 2115. Buyers borrowered money from any source to cash in on the bonaza.

Just like the recent stock market tumble--with investors doing the same thing--beg and borrow  what ever they could to gamble themsleves rich. Stock market futures..short sales and a true lack of understanding of world markets (play) the market..it is a form of gambling, no matter what eloquent words are used.

For the second and third time in 4 years Real Estate---gold and silver and volitile stocks have crushed the middle investor. They cannot pay back what they borrowed. State banks continue to manipulate the cash flow--just liekk any other nation has ever done by printing more and more money--lessening controls on lending--allowing diverse and unreliable lenders.

Beijing had at last saifd enough is enough last year--minus 10 major banks in CHina-Beijing put on notice their is no more buy out debt. You made the mess--now clean it up yourself.

Less the major 5 upper tier mega cities in CHina all other s are feeling the hurt and there now is just no more bailout funds.

What was worth 280-300 rmb per fram is now worth 215 rmb per gram. If one purchsed  10k rmb of gold in 2010 you paid 5.6 million rmb---at todays prices your value is just shy of 2.6 million rmb.
What if you borrowed 90%.....the payment on the loan would make you bankrupt.....Gamblers with out knowledge or experience should not play with the big boys. This accounts for approx 80% of stock -and gold/silver futures.

No one but you have caused this free fall so don't blame other countries or underground lenders from wuzhou for your problems.

Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.