Proof Bullion Banks Are Buying All The Physical Gold They Can
On the heels of fierce trading in the gold and silver markets, today the man who runs the largest gold and silver dealer in the United States sent King World News some critical information regarding what is going on behind the scenes in the war in the gold and silver markets. 41-year market veteran Bill Haynes also sent KWN private communications from a major refiner detailing where all of the gold being drained out of the COMEX and ETFs is actually being sent. Below is the exclusive KWN piece from the 41-year veteran of the gold and silver markets.
KingWorldNews.com’s August
7th interview with Stephen Leeb discussed the strong demand for gold in
China, which ran contrary to what the mainstream had been reporting.
Leeb said that this year China is set to import some 1,200 tons of
physical gold. But China is not the only Asian country where the demand
for gold is strong.
The rep said that my
speculation fit well with what his refinery was seeing. He said, “I
think you are absolutely right given the level of large institutional
demand we see for our kilo bars and 400 ounce bars that are going to New
York and London.” New York and London are the off-loading sites for
gold being shipped to Asia.
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On the heels of fierce trading in the gold and silver markets, today the man who runs the largest gold and silver dealer in the United States sent King World News some critical information regarding what is going on behind the scenes in the war in the gold and silver markets. 41-year market veteran Bill Haynes also sent KWN private communications from a major refiner detailing where all of the gold being drained out of the COMEX and ETFs is actually being sent. Below is the exclusive KWN piece from the 41-year veteran of the gold and silver markets.
Proof That The Bullion Banks Are Buying All Of The Physical Gold They Can Get Their Hands On
Most physical gold sold in Asia carries
premiums, especially in India, and bullion banks are moving to fill that
void in order to capture those lucrative premiums.
They are doing so by
procuring physical gold in the U.S., not only from the COMEX warehouses
and ETF liquidations, but directly from refiners. The gold is then
converted into forms which Asians are comfortable with -- mainly kilo
bars, and then the gold is shipped to Asia.
Several weeks ago I
exchanged emails with a rep for a major precious metals refiner about
the huge ETF liquidations and speculated that the liquidated gold was in
fact going to Asia. After all, the gold coming out of the ETFs and the
COMEX warehouses has to go somewhere.
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