Loading ...I’m not sure I fully understand how the physical demand in China affects our paper markets unless the players are standing for delivery? Clearly, the banksters either don’t have the gold to back the paper or won’t part with it?
Also – I liked this line from your article:
““Gold is trading at an all time high and gold ETF demand has surged in the past week with almost $600 million of net inflows into gold ETFs globally,”
Doesn’t the Crimex trade like a billion in paper every day? Seems to me $600 million worldwide in a week is a drop in the bucket compared to the amount of money sloshing around the world these days. Imagine if that were to double or triple. What would that do to this little sector?
However things work, the strength is something I’ve not seen in the pm market before. Usually when RSI’s even sniff 70, this stuff tanks and gives back half or sometimes all the gains. How far away can $100 up days be from where we are right now? Maybe we’ve finally arrived at the point where “this is truly it”?