So the demand for physical gold by strong hands who want to buy in size is outstripping available metal, which ties into one of the key points in your excellent interview with Andrew Maguire this weekend. Could these strong hands be the sovereign buyers that Andrew referred to?
This EFP activity also ties into another point Andrew made in his interview. The gold price in the physical market is increasingly being set in China, the rest of Asia and the Middle East. Consequently, the power of the gold price manipulators who use paper is diminishing. The manipulators are fighting this loss of power by trying to delay the delivery of the physical gold they are obligated to deliver. They are between a rock and a hard place.
- Source, James Turk via King World News