Despite the recent pullback in gold, the bullion banks’ worst nightmare may now unfold as gold demand remains strong.

Bullion Banks’ Worst Nightmare
March 30 (
King World News) – 
Alasdair Macleod:  “Comex turnover in gold contract has been declining to holiday-like lows. Average daily turnover is 450-500k contracts. Yesterday was 188,409 and open interest way down at 519k. This tells us selling drying up. Set-up now potentially price-explosive on the upside. BBs nightmare!”

Gold Demand Remains Strong
Ole Hansen, Head of Commodity Strategy at Saxo Bank:
  “Gold trades softer as the US dollar trades higher on month and quarter-end flows. Also in focus a weak inflation outlook signaled through low energy prices, weak physical markets in China and India together with news that Russia may turn a net-seller to fund its growing deficit…

To learn which junior explorer is looking to drill multiple major tier one discoveries CLICK HERE OR ON THE IMAGE BELOW


Despite these headwinds gold’s correction this past week has so far been very shallow as ETF demand remains strong. Since the Fed introduced ‘open ended QE’ total holdings have risen by 80t to a record 2807t. Support at $1600 followed by $1571/oz (see below).

Support For Gold In The $1,571-1,600 Area

To listen to Alasdair Macleod discuss the bullion banks being squeezed in the gold and silver markets, the imminent catastrophe the world faces and much more CLICK HERE OR ON THE IMAGE BELOW.

Sounds About Right
***Also Released: 
This Sums Up Today’s Action Perfectly CLICK HERE.

© 2020 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.