On the heels of the recent takedown in the gold futures market, King World News has gotten word from London that we are now seeing shortages of physical gold and unheard of delivery times. In other words, the paper gold market, as always, continues to be bullshit.
December 3 (King World News) – Alasdair Macleod: “Eric, last week we were talking about the amount of gold that has been coming out of the London vaulting system and the fact that the ETFs have been selling and the fact that you’ve got mined gold coming into the market at the rate of as much as 50 tonnes a week. That situation has changed because now what’s happening is it appears the big buyers are going direct to the refiners and asking, ‘When can you deliver 20 tonnes, 30 tonnes?’ or whatever it might be, and they’re being told it’s going to take at least another 8-10 weeks. This sort of delay is unheard of. Clearly there is no stock in size. And we are also seeing this on Comex. It’s staggering…to listen to Alasdair Macleod discuss the shortage of available physical gold and unprecedented delivery delays CLICK HERE OR ON THE IMAGE BELOW.
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