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The Year of the Ox Looks Golden

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#China #LunarNewYear #Ox #gold

$XAU $GLD

China’s economic recovery from its virus casedemic may offer some encouragement to gold bulls, as expectations are building that jewelry demand will rebound.

Jewelry retailers on the Mainland are reporting strong sales recently as consumer are buying online.

The slow start to Y 2020 saw demand in China, the world’s biggest gold consumer, fall 35% to the lowest annual mark since Y 2009.

Optimism about New Year sales has improved significantly.

China’s Lunar New Year holiday, a traditional frame to buy gold, begins on Thursday, 12 February.

Have a healthy week, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.