Gold After The Lunar New Year; Jeff Christian Looks Ahead

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Kitco News speaks with Jeff Christian about what will happen to gold after the Chinese Lunar New Year holidays on this edition of “Commodities Confidential.” He takes a look at how gold prices usually react during this time of year and shares his thoughts on Asian demand for gold. “One of the things that happened last year was that you had disappointing sales during the Lunar New Year,” he says. “At the end of the holiday we saw dealers dumping their inventories, which was really the beginning of the downward move in gold prices.” However, Christian says Chinese demand represented roughly 33-40% of the support for gold prices in 2013 and says it will probably be the same situation this year. “It not the ‘end all, be all’ but it is the largest market for gold,” he adds. Christian also touches upon China’s debt levels and says whether or not people should be concerned. Watch now for more from CPM Group’s managing partner. Kitco News, February 5, 2014.

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