Repost from 9-24-2021
“‘The Evergrande debacle has caused investors to move into gold and shift gear to capital preservation,’ said Bernard Sin, regional director, Greater China at MKS, adding Chinese imports could ‘increase drastically this month.’”
USAGOLD note: Having been in the gold business for a very long, we are quite aware of how investor sentiment can change from one day to the next. What is happening now in China, the result of the Evergrande debacle, is a case in point, and should there be repercussions elsewhere, you can be assured the reaction will be the same. Gold remains the safe haven of choice among knowledgeable investors – no matter where they happen to reside.