China is LOSING its appetite for gold as demand is set to INCREASE by 20%. On the 1 year anniversary of its biggest smackdown in decades, gold bulls got a...

China is LOSING its appetite for gold as demand is set to INCREASE by 20%. On the 1 year anniversary of its biggest smackdown in decades, gold bulls got a brutal reminder of the fragility of the current market, with a sharp sell off overnight. Depending on whether you listen to the Wall Street Journal or the World Gold Council yesterday, you either became more convinced that the bull market is dead, or that we are on the verge of a historic buying opportunity, though it must be said that the market went with the journal, with gold prices smashed back below USD $1300oz. Fears of a Chinese slowdown, slower money supply growth and attempts to rein in commodity financing were behind the WSJ's analysis, whilst the Gold Council looked at the rising wealth of China, and one of the most likely destinations for that capital. All that and more here (VIEW LINK)