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Gold demand in China may surge as much as 30 percent this year as rising incomes boost consumption, helping the country topple as the world's largest bullion market on an annual basis, according to the World Gold Council.
Mines are running at full-bore in a modern-day gold rush fueled by never-before-seen prices that make Nevada, if it were its own country, No. 5 in the world for gold production.
Gold has now made a bullish reversal on a weekly basis, as price rallied sharply on Thursday and Friday. Support held, which means gold could be on the verge of setting a double/triple bottom around $1,550.
Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
The sharp turnaround in sentiment in the bullion market has some asking whether the rally is a dead cat bounce or perhaps the last chance to buy before prices rocket.
Michael Pascoe, writing for the Sydney Morning Herald, hits on a little-reported theme gleaned from remarks by BHP Billiton chairman Jac Nasser this week in Sydney.