from KingWorldNews:
“Their patience was rewarded today and that was some serious tonnage,
at least 40 tons (of physical gold purchased). This is 40 tons of real
physical (gold).
What it is doing is insuring that the bullion banks are taking the long side of this hot money (shorts) chasing price to zero. Because there is a lagging effect, we may see this (downside move) carry through until Monday, but I absolutely doubt that it can extend beyond that.
This cannot stick (the downside move) with this kind of volume (on the physical buy side) coming through. I saw premiums in Shanghai this morning at close to $26. That’s outrageous. The Mumbai premiums are through the roof. If you want physical today, you are going to have to pay a premium price for it.
Audio Interview with Andrew Maguire @ KingWorldNews.com
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“Their patience was rewarded today and that was some serious tonnage,
at least 40 tons (of physical gold purchased). This is 40 tons of real
physical (gold). What it is doing is insuring that the bullion banks are taking the long side of this hot money (shorts) chasing price to zero. Because there is a lagging effect, we may see this (downside move) carry through until Monday, but I absolutely doubt that it can extend beyond that.
This cannot stick (the downside move) with this kind of volume (on the physical buy side) coming through. I saw premiums in Shanghai this morning at close to $26. That’s outrageous. The Mumbai premiums are through the roof. If you want physical today, you are going to have to pay a premium price for it.
Audio Interview with Andrew Maguire @ KingWorldNews.com
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