Friday, September 04, 2009

China Urges Citizens to Buy Gold and Silver

Things that make you go hmmmm...
People in North America and Europe are used to seeing plenty of advertisements for gold and silver – from opportunists urging people to get rid of their “useless” gold and silver for cash! Clearly this is a bullish indicator for the market, as these companies wouldn't be spending large amounts of advertising dollars to hype “scrap” sales, and then even more money buying the metals if they didn't see the opportunity for big profits.

It turns out that there is also “advertising” for gold and silver in China, too. The big difference here is that it is China's government which is advertising the “opportunities” in gold and silver and it is urging the Chinese people to buy gold and silver.
Read the rest here.

1 comment:

Mark said...

At least those people advertising on TV are doing so because they can make a substantial amount of money by underpaying for the metal -- but they aren't very good at spotting fakes.

The consumerist has a good write-up on Cash4Gold: