International Metals–“Mann International”– (Chinese Told: Buy Gold)...
(NewDesignWorld Press Release Center) -- October 11, 2009, New York, USA- “Mann International”: State-owned Chinese TV is advising viewers to purchase precious metals.
“Mann International” the Asian-based investment broker says that the main state-owned Chinese television channel is advocating the purchase of precious metals including gold and silver as an investment.
Furthermore, every bank will sell gold and silver bullion bars in four different sizes to individual buyers whilst China’s largest bank, the ICBC, is setting up a precious metals department to handle growing investor demand.
Sources close to “Mann International” say that the news is likely to provide a floor under the prices of both metals. Gold closed out the week at $1005 despite concerted efforts by bullion banks to drive the price down by short selling futures contracts.
The consensus at “Mann International” appears to be that investors have begun to look more closely at the “safe haven” status of the US dollar which has just completed six solid days of losses against a basket of major currencies. This scrutiny has revealed flaws in the viability of the US dollar as a store and preserver of wealth in the light of quantitative easing practices that devalue the currency.
Although the “Mann International” source conceded that the price of gold and silver could fall, it was highly likely that investors would take the opportunity to acquire the metals at a reduced price making it likely that prices could rebound quickly.
http://www.manninternational.com
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