Barry Stuppler

There is a strong probability that the correction in the price of Gold has been completed. In Elliot Wave (EW) terms, the correction consists of three waves, an A wave down, a B wave rally and a final C wave decline. There is usually a relationship between the A and C waves. Often they are equal or have a Fibonacci connection....

Did China just overtake India as the world’s largest gold consumer?

Little more than a year ago it would have been almost laughable to ask that question. In 2010 India’s gold consumption was a full 46 per cent – or 275 tonnes – higher than China’s, according to data from consultants GFMS published in the World Gold Council’s quarterly reports.

Even three months ago it would have been a stretch. In the first nine months of 2011, Indian gold demand totaled 743 tonnes, compared to 612 tonnes for China.

But data released in the past few days suggests that China ....

China’s latest gold figures look unrelentingly bullish. Too bullish perhaps…

SO “GROWTH has [now] replaced inflation as Beijing’s top policy concern,” says Qu Hongbin, Asian economics expert at HSBC in Hong Kong, forecasting three cuts to China’s banking reserve requirements by July.

“There is developing in Beijing, I think, almost a panic about global economic prospects and the impact of the European crisis on China,” agrees Michael Pettis, finance professor at Peking University. He goes one further and forecasts debate – if not the fact – of a currency devaluation in 2012.

Yes, you read that right. In a US election year, Beijing’s policy wonks are arguing over cutting the Yuan’s foreign exchange value, not raising it....

As someone who has been buying gold and other commodities since 2002, I can say with some authority that it is difficult to predict the price of any commodity.

However, one thing I’m fairly certain about is that after 12 consecutive years of increasing value, gold will continue to go higher in 2012.  Here’s why ....