KING WORLD NEWS - BLOG
BROADCAST../../../../Broadcast/Broadcast.html../../../../Broadcast/Broadcast.htmlshapeimage_6_link_0
HOME../../../../King_World_News.html../../../../King_World_News.htmlshapeimage_13_link_0
BUSINESS../../../../Business.html../../../../Business.htmlshapeimage_14_link_0
GREEN../../../../Green.html../../../../Green.htmlshapeimage_15_link_0
HEALTH../../../../Health_1.html../../../../Health_1.htmlshapeimage_16_link_0
ENERGY../../../../Energy.html../../../../Energy.htmlshapeimage_17_link_0
SPORTS../../../../Sports.html../../../../Sports.htmlshapeimage_18_link_0
GOLD+../../../../Gold.html../../../../Gold.htmlshapeimage_21_link_0
 
 
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html
KWN BLOGhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlshapeimage_24_link_0shapeimage_24_link_1

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Subscribe to RSS
CLICK HEREhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlshapeimage_27_link_0shapeimage_27_link_1
KWN Blog
Archiveshttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlshapeimage_28_link_0shapeimage_28_link_1

The London Trader continues:


“They are naked short on the COMEX and to meet immediate delivery demand they are having to borrow it from the SLV.  It is still unwinding and it’s still got a long way to go.  Yes, you will still see games being played and yes you can create paper gold out of thin air.  But there comes a point where each time you do that the physical buyers are taking it and it has a lagging effect that will catch up, and eventually it gets reflected in the price.


The demand for euro gold here in London is so intense it’s shocking to some of the players.  This is what has left some market participants in the US wondering why the price of gold has risen along with the dollar.  It’s because demand in the eurozone is unimaginably strong.  The euro physical gold demand is off the charts and it is creating shortages for metal, in size, here in London.


The physical gold market is actually being drained by euro gold buyers.  People are converting their euros to gold and there is only a finite amount of physical gold available.  Again, that’s why you are seeing the dollar and gold rallying together.


We are also seeing very strong markets in Asia with solid premiums.  Silver is in backwardation.  There are huge premiums for size (large tonnage orders) in silver and you are going to wait 3, 4 or 5 weeks for delivery.  There is constant backwardation into the March futures contract.  For the most part, the bid on silver spot has been higher than the ask on March futures.


These paper markets are a joke.  Nobody who is seriously in the business of taking physical delivery is trading on the COMEX anymore.  That is big news.  The COMEX is no longer a credible marketplace....


Continue reading the London Trader interview below...




Advertisement


To hear legendary company builder Rob McEwen, original Founder of

Goldcorp discuss which company he invested $50 million

of his own money in and why click on the logo:






“You now have international funds, whose compliance departments are saying to them, ‘You can no longer trade on the Comex because the CME did not back client accounts.’  There are a tremendous number of international funds and hedge funds that can no longer trade on the COMEX as of the first of this year because of compliance reasons and no one is talking about this.  This is huge news. 

 

Back to gold, if we get a pit close above $1,650 you could see a lot of scared shorts begin to cover.  This could create a very quick move higher in the gold price.  Also, if we get a pit close above $1,650, we are going to see a very large tranche of unfilled wholesale orders moving a lot higher with their bids, and that will become a base.  There are massive orders for sovereign entities under the market here.  


The Chinese are long-term thinkers and they really don’t care whether they are paying $1,600 or $1,700 for gold.  What they do is get the best price they can.  When the new floor eventually becomes $1,700, they will buy everything available at that price.  When it becomes $1,800 they will buy at that price.  They are just looking to accumulate gold and they are never sellers, never.


There are two things here.  Yes, China wants a cheap gold price and they’ve been enjoying the fact the gold market was taken down.  They have recently taken another roughly 150 tons away from the Western central banks.  The Western central banks essentially donated that gold in an attempt to prop up their paper currencies.  Yet again these traitorous Western central bankers have given away more power. 


I see gold as power and once again they have given it away to the Eastern Hemisphere.  The Chinese continue to laugh.  As much as the Chinese would like to have a cheap gold price and have this manipulation keep going, they also want to bring the renminbi to the center stage.  


To them, it’s more important the Chinese currency becomes the world’s currency.  The dollar, despite the latest rally, is dying, we all know it’s dying.  So, the Chinese are moving to become the international currency of the world and the best way to do that is through gold.  It’s a very clever tactic.  Every time more gold arrives in China, the more their currency is backed, the closer they move technically to becoming the world’s reserve currency.”


The flow of gold from Western vaults to Eastern vaults is the most important symbol of the decline of the West.  As the East rises, the West falls.  “So goes the gold, so goes the power.”  Remember to be your own central bank by owning physical gold.  Many in Europe have apparently figured this out as gold demand is, “off the charts.”


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

To return to BLOG click here.

 
http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html