"China "continues to believe that peaceful talks and the diplomatic route are the best choice in the interests of all sides, to solve the Iranian nuclear problem," spokesman Kong Quan said. "We hope that all sides will make the maximum effort to renew talks." China intended to contribute to solving the nuclear problem with Iran, he said."
They can believe whatever they want. However, it is most apparent that someone is buying a LOT of gold and it's not private investors. I wouldn't put it past China to be the ones that are accumulating the precious metal fully speculating that the events in Iran are not going to end peacefully. Particularly with the type of cowboys that presently hold the office of president and vice president of the United States.
Bush has done nothing but continue to tarnish the reputation of the United States of America. He has no fiscal policy for controlling debt or spending, and has little sense on diplomacy. The history books will certainly make a mockery out of the administration that presently occupies the White House.
Analysts are suddenly coming out of the woodwork and speculating that the final days of the dollar are near. They draw distinct correllations between the action in gold (speculators hedging on continued downward pressure on the dollar) and what they perceive as a heightened situation of pressure on the financial markets because of the United States' lack of control with Federal spending and balancing trade. China is calling all of the financial shots right now. They also appear to be hedging their bet with commodities. I doubt it will take long to see their next move. That move will probably take place after Burnanke takes the chair.
Peace,
Market Data 
Markets 
AI
