West should understand the dynamics of Gold this time---its not 1970's

Many in west baring the most astute observers feel that its only US moving the gold market and Comex are the rates to refer to.

The point is Gold has been and will be store of value of billions in Asia specially India and China. Hence, the bull this time gold and silver are in is not just a western phenomenon. Asians also have to save their wealth by investing in PM since their currencies are also being depreciated.

Read this article from Forbes for some further articulation.

The Chinese Mean To Control The Global Gold Market

Get ready for the Pan Asian Gold Exchange, scheduled to open in June, 2012 in Kunming City, Yunman Province– the gateway to all of Southeast Asia. This is serious, as the Pan Asian Gold Exchange is a part of China’s five year plan– which means it is part of China’s strategy for dominance in global financial markets and the global economy.

Pan Asian will allow Chinese to speculate in gold futures contracts or buy physical  gold through an account with a bank or broker. All 320 million customers of the giant  Agricultural Bank of China  will. simply be able to use their Renminbi, the Chinese currency, from their bank accounts to  trade gold. Sounds bloody dangerous doesn’t it.

Read rest of the article here.