We had a huge addition of 3.57 tonnes in gold inventory at the GLD; thus the inventory rests tonight at 705.47 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. I am sure that 700 tonnes is the rock bottom inventory in gold.
I believe anything below this level is just paper and the bankers know that they cannot retrieve “paper gold” to send it onwards to China.
At 3:30 pm Friday the CME sends down the COT report so we can get a good handle on how the crooks are going to beat up on gold and silver.
Gold and especially silver rose sharply in the access market.
Thus it looks like the raid on gold/silver is over and both of these metals will advance on Monday.
The metals are definitely behaving differently right now, and I’m not the only analyst who has noticed this.
Austria confirms that it will repatriated 140 tonnes of gold over the next 5 years from the Bank of England. They have also confirmed lack of confidence in the B. of E. We wish them luck in retrieving their gold.
Today was options expiration, and the banksters hammered gold and silver as expected…
Today, somebody was in urgent need of physical silver…