Calm After The Plummet

Since trading began last night, gold has drifted slightly downwards. Given the Dubai panic, that may be good news all told.

Also, an official in China - Ji Xiaonan, who chairs an advisory body overseeing some large Chinese corporations - said that the recent panic may present a buying opportunity for the Chinese government. Given his position, this statement was basically an op-ed - but it may be echoed by Chinese central bank decision-makers.