Loading ...“On 16 June 2017 Safehaven published my article “Another Crazy Conspiracy Theory About PM Manipulation”. I wrote:”When will the gold price suppression end? It is ending right now, before our eyes. Retail buyers have finally understood that central bank price smashes are like Happy Hours in a nightclub. It means that the “SALE” signs go up and gold is offered at a discount. At the current intensity it is impossible to hide the manipulation. It is just so obvious. A manipulation that is recognised as such does not work any more. Price smashes now attract swift buying. This defeats the object and makes it impossible for the manipulators to cover their naked shorts without creating a massive spike in the price. It is evident to me that the current price suppression regime broke within the last six weeks precisely because investors learnt to buy when central banks sell.” This is exactly what is happening right now. The driving force is the strong demand for physical gold. According to my calculation Chinese and Indian demand alone exceeds global mine supply. Add to this your projection of demand from the rest of the world and you will see that demand for physical gold exceeds mine supply by a very large margin. This demand overhang has been in place for at least the last five years. The anti-gold cartel has been successful in camouflaging this by dumping gold contracts on the COMEX.”
http://safehaven.com/article/44703/gold-recap-and-gold-outlook