China has taken over as the biggest producer AND consumer of gold and traditionally buy 24 Karat gold..

More than 85 per cent of Chinese shoppers buy "24-karat, 99.9 per cent gold. We call it pure gold. The colour is more yellowish," Roland Wong, general manager for China of the World Gold Council said in a telephone interview from Beijing.

"It's a symbol of wealth," he said. "People regard it as a precious gift with very valuable meaning."

The biggest buying time of the year is the lunar new year, Feb. 14.

"During the holidays, we have crowds of customers," he says. "You wouldn't be able to get close to the gold counters then."

So maybe with the news releases that we all expect shortly ,and the pop in the demand side for gold coming ,we may just ride the wave up and Rico's buy at .48 will make him look like a genius..and on top of the eight ball..

Portee..

You can read the whole article here..

http://www.vancouversun.com/China+become+world+largest+consumer+gold/2518291/story.html