Stewart Thomson says the “golden wave” is coming, so goldbugs should enjoy the dip to load-up on gold because institutional investors are about to start buying gold in a big way…
A major new buying spree is just getting underway according to Adam Hamilton, and there is an event in the making that will propel the gold price higher…
Short-term problems surface with the GLD
“The dollar could begin a “meltdown” phase as gold bursts above the neckline in the $1260 area”
When does trading digital paper become better than trading paper gold? When it’s Bitcoin of course! The Party is absolutely rockin’ over at Cryptoland! Hurry in before last call, wouldn’t want to miss out on the party of the century! Having passed the price of gold earlier in the year (even though that is like comparing apples to oranges), Bitcoin has now surpassed the infamous GLD in trading volume.
Smoke and Mirrors…
Fund Manager Dave Kranzler Has 2 Words You Need to Know and Understand:
A remarkable but little noticed development has occurred behind the scenes of the SPDR Gold Trust (GLD) over the last 3 years…
Central banks continue to report leased and swapped gold (gold receivables) as an asset on their balance sheets.
This accounting fiction, which doesn’t follow any international accounting standards is a sleight of hand that allows the same gold to appear to be in two places at once.
Despite storing a VERY LARGE amount of gold on behalf of gold-backed ETFs, and being made infamous by CNBC’s Bob Pisani, no one seems to have ever tried to figure out where HSBC’s London gold vault is actually located.
We watched intently as July Comex silver deliveries spiked to unusually high levels.
Now, with August Comex gold in delivery, we’re starting to see some of the same demand.
No, it’s not a “run” or a potential “default”. It may, however, be another indicator of extremely tight global wholesale precious metal supply.
The lower price of gold has triggered an avalanche of physical gold accumulation both globally and in the United States. This means that the behavior of the gold holdings of the GLD Trust are behaving inversely to the observed behavior of the global market for physical gold – i.e. the amount of gold held in “trust” at GLD should be rising, not falling.
The ONLY explanation for this is that GLD is being looted by the bullion banks.
To me, it’s clear that the GLD is being drained of whatever physical gold it holds. This gold is being used to satisfy insatiable Asian/Eastern physical demand.
If you want to really own gold, your only option is to do what the Chinese, Russian, Indians et al are doing…BUY IT AND TAKE DELIVERY. You don’t own it unless you hold it.
Friday, we had a monstrous withdrawal of 3.25 tonnes of gold inventory at the GLD/Inventory at 768.26 tonnes.
No doubt that this removal was physical gold heading to Shanghai:
Though gold was only down a little more than 1% in 2014, the drain of the GLD, which began in 2013, continued in earnest.
In the end, what matters is where all of this gold went. So, where did it go?
First, it went to Switzerland, where it was re-assayed and then re-cast into 87,410 of these:
Then shipped off to points East and gone for good.
2015 is going to be a wild and eventful year. Prepare accordingly.
GLD suffers a HUGE holiday loss of 11.65 TONNES OF GOLD FROM INVENTORYS/A HUGE LOSS OF 7.566 MILLION OZ FROM THE SLV- ENGLAND MUST BE BLEEDING PRECIOUS METALS PROFUSELY HEADING TO CHINA, INDIA AND RUSSIA!
PM fund manager Dave Kranzer joins us this week for a power packed show discussing:
- Netherlands Bombshell: 130 tons of gold secretly repatriated from the NY Fed– Dave explains why this gold nearly had to have come from the GLD
- Silver shortage is BACK!! Silver Eagles & Maples premiums rising as Mints allocate production, major US mints running up to 8 weeks behind on silver production!
- Kranzler explains why the commonly referenced Kitco’s gold & silver charts are NOT the true spot price for the metals
- Holiday Melt-Up; Why a blow off top is coming in the equity market followed by a major crash
- Japanese yen supernova- is hyperinflation of the Yen imminent?
The SD Weekly Metals & Markets With The Doc, Eric Dubin, & PM Fund Manager Dave Kranzler is below:
Gold has suffered a rough couple of months, getting pounded below major support. One driver was stock-market capital flowing out of gold again, as evidenced by renewed differential selling pressure seen in gold-ETF shares. But this was minor compared to last year’s, despite extreme bearish sentiment plaguing gold.
Gold-ETF selling exhaustion has effectively been hit, paving the way for big rebound buying.
In a move that is much more significant and relevant than the Chinese interest rate cut news, it was revealed that Netherland’s Central Bank repatriated 120 tonnes of gold this year. The move was accounted for as a transfer of gold from the NY Fed to De Nederlandsche Bank (DNB).
I say “accounted for” because I believe it is highly likely that the physical transfer took place from the GLD custodial vaults to the DNB.