Which prices are more distorted?
12:21p ET Tuesday, April 21, 2020
Dear Friend of GATA and Gold:
Voima Gold researcher Jan Nieuwenhuijs writes today that demand for gold and silver coins has little influence on the price of the monetary metals because coins constitute only about 8 percent of demand, far less than the institutional demand for metal in the wholesale market.
Of course institutional demand in the wholesale market is enormously distorted by the fractional-reserve gold and silver banking system, in which a vast imaginary supply is created, a supply many times larger than the actual metal available. Nieuwenhuijs’ commentary today disparaging the regard for coin prices does not acknowledge this.
So which prices are more distorted — retail coin prices or wholesale prices for gold not actually delivered? What is the real price of real gold?
Voima is in the gold business, so one can always contact the company to see if it’s selling at the “spot” price anything you can hold in your hand that feels more like metal than paper.
Nieuwenhuijs’ commentary is headlined “Coin Demand of Little Relevance to the Gold Price” and it’s posted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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