Bejing installed its first vending machine that sells gold. The machine dispenses up to $150,000 in bullion bars. China plans to install many more such machines.
Europe may have to print more money as it bails out the PIIGS, and this would be inflationary. The US may have to accept inflation as part of renewed economic growth. Both sources of inflation would increase the price of gold.
Now doubt, China is aware of these upward pressures on the price of gold.
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Published on September 28, 2011 13:37