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East Asia is Buying Gold Massively

China, Japan and India are all buying more gold during this period. Bargain-hunting from the population's side and investors as well.

The Indians are traditionally major buyers of gold and China has recently "joined the club", as the government allows the population to acquire precious metals for personal use (as opposed to communist times, when such possibilities were strictly limited).

Japan is struggling with rising (controlled) inflation, therefore the population is running towards precious metals.

China's retail sellers report massive sales. Rumors speak of "emptied stores" and "long lines" of clients waiting in front of traders' shops.

The price dip was the main factor that attracted the Chinese into buying gold bullion. The current levels are the cheapest in China since 1938.

Despite all these bullish forces, gold is currently falling. Partly due to speculative profit-taking. An FOMC meeting is undergoing in Washington D.C. today, the results of which will also impact precious metal prices this week already.

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