Loading ...Hi Maddog,
I recently watched a video on YouTube regarding the impact of gold prices in China. I believe these effects are likely occurring on a global scale as well. Given the common saying that a market top is near when everyone is talking about it.
Apparently the rise in prices are having a inverse effect on the gold jewelry stores causing some stores to close. On the other hand the gold bullion stores now during any dip in prices causes a long line of buyers standing outside. If more gold jewelry stores close I can imagine those lines in the future will get longer.
With that said one could speculate what might happen once their holiday is over if the prices continue to slowly decline right now.
The demand in their country is apparently leading the demand for gold.