Look at what the wealthy are doing as the gold and silver prices plunge.

November 11 (King World News) – Alasdair Macleod:  Eric, it is important to understand the interests behind this week’s markdown in gold and silver prices. Last week, the bullion banks were beginning to be squeezed by hedge fund buying of Comex gold contracts, on top of their near-record shorts. They are really hurting.

Markets are both thin and volatile, so we saw the Dow jump over a thousand points in response to the promise of a vaccine that will begin to be administered hopefully in December, but most of us will not get it before the New Year. What is not realised is that in thin markets equity prices are being driven by monetary inflation, which will continue, because the economic damage goes well beyond the coronavirus…

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Extremely thin markets also exist in physical gold and silver. Everywhere I hear stories of only small amounts of coin and bar are available, and for any decent quantities there are considerable delays in delivery. Obviously, this does not apply to paper gold, which is created out of thin air.

This situation is why I always tell people not to trade in paper gold, unless you are one of the very few speculators who consistently make money trading. Gold and silver are sound money, and physical bars should be owned and held as such, if you understand the fragility of fiat currencies and the accelerating debasement by central banks.

What The Wealthy Are Doing
We are now 13 trading days away from the expiry of the December gold futures contract. Buying futures and standing for delivery is the only way the increasing band of the very wealthy and their families beginning to be frightened by monetary inflation can acquire decent quantities of bullion. This knockdown is a great opportunity for them to do just that.

King World News note: The wealthy have in fact been taking delivery of gold in record numbers off the Comex. If this pattern continues, the staggering volume of paper claims on each ounce of gold may begin to unravel the paper gold system on the Comex. For now, do what the wealthy are doing and accumulate physical gold and silver.

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