This post was just published on ZYX Buy Change Alert.
According to China Gold Association (CGA), China consumed 706 tonnes of gold in the first six months of this year, a rise of 54% year over year. China consumed 832 tonnes of gold in the entire 2012.
Both gold and silver have moved up strongly on this data.
In our analysis, this data should be taken with a grain of salt.
Stocks are lower this morning but so are interest rates.
Gold futures are at $1337, silver futures are at $21.20, and oil futures are $105.52.
S&P 500 resistance levels are 1700, 1710, and 1725; support levels are 1675, 1650, and 1635.
DJIA futures are down 43 points.
