12.10.2015 - Gold fever in China and India could spark market turmoil
China and India's aggressive acquisitions of gold could bring turmoil to global stock markets, reports Duowei News, a US-based Chinese political news outlet. Citing Russian news network Sputnik, the report notes that the London Metal Exchange is almost completely out of gold reserves, with the exchange's largest dealer, A-Mark Precious Metals, confirming that the short supply stems largely from Chinese and Indian purchases. This assertion is supported by Peter Hambro, founder of Petropavlovsk, one of Russia's largest mining and metallurgical companies. "My baseline is [the Chinese] have been buying and the Indian have been buying in enormous quantities. It's virtually impossible to get physical gold in London to ship to those countries," he said...............................................Full Article: Source
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