So J-Rod says gold will hit $1200-$1400 by the end of the year. With so many printing presses around the world working 24-7 something has to give. The question is…”why isn’t gold taking off harder?”

With the money supply booming, it seems weird that hyper inflation…or even normal inflation…isn’t kicking like a bronco, but it just isn’t.

The fundamentals for this situation are the same as they always are, so one has to simply put it down to a matter of timing. The U.S. is a big ship and the turning has begun. We’ll see where is heads in due time…

Gold Rises to 3-Week High in London as China Increases Reserves

By Nicholas Larkin

April 24 (Bloomberg) — Gold rose to a three-week high in London, heading for its first weekly gain since March, after a report that China’s reserves of the precious metal increased 76 percent since 2003.

China holds 1,054 metric tons, the official Xinhua News Agency said, citing the head of the State Administration of Foreign Exchange. It also has the world’s largest foreign- currency reserves, at $1.95 trillion as of March 31. Bullion has added 4.7 percent this week, the most since the week of Feb. 20.

“The Chinese gold-reserve story and reports of strong physical demand in India, Dubai and other demand centers have propelled” prices, Pradeep Unni an analyst at Richcomm Global Services DMCC in Dubai, wrote in a note. The Chinese report raises “hopes of more purchases to diversify its massive foreign-exchange holdings,” he said……

http://www.bloomberg.com/apps/news?pid=20601087&sid=a0np2moIQsuE&refer=home

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