Gold Buying in China “Strong as an Ox”

While last months sell-off in gold may have rattled many investors, that has
not been the case in China, at least according to Scotia Mocatta. In a note to
clients on Monday, the firm discussed the yellow metals weakness and the strong
level of dip-buying that remains in two key emerging markets. Over the past 2
weeks commodities, including gold, have been in the crusher, although to be fair
losses in non USD currencies have been significantly less than those that have
been suffered at the hands of the strong USD, analysts at Scotia Mocatta wrote.