China to Become Major Gold Trader, According to Leading Financial Newsletter Profit Confidential

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According to Michael Lombardi, lead contributor to Profit Confidential, the Shanghai Gold Exchange is proposing to move gold bullion from the exchanges to another platform, which would open the accessibility to banks and major investors around the world. Lombardi notes that it’s a natural progression for China, as the largest buyer and miner of gold bullion.

China to Become Major Gold Trader, According to Leading Financial Newsletter Profit Confidential

China to Become Major Gold Trader, According to Leading Financial Newsletter Profit Confidential

“The Chinese economy tends to be a more closed place where access is limited for institutions around the world,” says Lombardi. “This opening up to banks and investment houses around the world is significant for the Chinese economy.”

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According to Michael Lombardi, lead contributor to Profit Confidential, the Shanghai Gold Exchange is proposing to move gold bullion from the exchanges to another platform, which would open the accessibility to banks and major investors around the world. Lombardi notes that it’s a natural progression for China, as the largest buyer and miner of gold bullion.

In the article “China Wants to be a Major Global Trader of Gold Bullion,” Lombardi notes that the Shanghai Gold Exchange allows the trading of gold bullion, but its membership is limited to only a few investors.

“The Chinese economy tends to be a more closed place where access is limited for institutions around the world,” says Lombardi. “This opening up to banks and investment houses around the world is significant for the Chinese economy.”

The proposed changes may go into effect as early as August 31, 2012 and would make gold bullion the first commodity to trade on this platform in the Chinese economy, Lombardi explains.

“China can now say that the price of gold bullion that will be set on this platform can be used by people around the world as reflective of the price of gold bullion people can quote,” says Lombardi.

For the Chinese economy to want to be a major player in gold bullion means that China views gold bullion as an important commodity: the only one it would place on this new platform, Lombardi believes.

“It’s nice to know that there is a major buyer waiting to step in and buy gold bullion on any dips,” says Lombardi. “I would suggest following in China’s footsteps.”

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.

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