Gold and Silver poised for major move.

IMG Auteur
Published : December 12th, 2012
306 words - Reading time : 0 - 1 minutes
( 3 votes, 5/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...
Category : Gold and Silver

 

 

 

 

The major operators of the paper market in precious metals are using all the ammunition they have available to suppress the price of gold and silver. But they have an extremely powerful opponent in China which continues to increase the gold imports at a remarkable rate. In 2012 China has so far imported 500 tons of gold against 375 tons for 2011. Total Chinese production and imports for 2012 is 900 tons against 750 last year. (chart courtesy Nick Laird of chartsrus.com)








Alasdair Macleod discusses that the Futures Market in precious metals is heading for a major crisis due to the massive outstanding short positions of US banks in gold and silver. http://www.financeandeconomics.org/gold-futures-market-heading-for-crisis/ A major short squeeze could be imminent.


Regularly when GoldSwitzerland transfers what should be client’s physical allocated gold bars from Swiss banks to vaults outside the banking system , the bank does not actually have the physical but must acquire it. Paper gold outstanding is around 100 times the amount of physical gold available. Thus all paper holders can never get physical delivery. This also goes for most ETFs.


The fundamental and technical picture could not be better for gold and silver. Most governments’ deficits are escalating at a fast rate. Money printing worldwide is likely to accelerate rapidly and could reach exponential rises in the next 1-3 years.


Gold and Silver will continue to reflect the destruction of paper money but must be held in physical form and stored outside a very fragile financial system.


The next target for Gold is still $4,500-5,000 and for Silver $150. These targets could be reached in the next 12-18 months. Longer term targets are much higher.


These issues and much more are covered in my recent interview with King World News:


Link to Dec 7 KWN written interview


Link to Dec 7 KWN audio interview

 

 



Data and Statistics for these countries : China | All
Gold and Silver Prices for these countries : China | All
<< Previous article
Rate : Average note :5 (3 votes)
>> Next article
Egon von Greyerz is the managing director of Matterhorn Asset Management AG based in Zurich Switzerland. He specialises in wealth preservation with the special emphasis on physical gold stored in Zurich outside the banking system.
Comments closed
  All Favorites Best Rated  

I think that CHINA is helping to suppress the price of gold and silver,

they don't want to pay high prices to fill there safes.
Rate :   1  0Rating :   1
EmailPermalink
Latest comment posted for this article
I think that CHINA is helping to suppress the price of gold and silver, they don't want to pay high prices to fill there safes. Read more
PIERRE T. - 12/12/2012 at 8:51 PM GMT
Rating :  1  0
Top articles
Latest Comments
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
11 DecS W.
Thanks for letting me state my opinion! Your comment is insulting. Try as I might I am yet to find any scientific evidence of AGW or the e...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
10 Decfsvec
You are entitled to put opinions into whatever category you like . . Whether it holds any credence is for others to be convinced not you! Personall...
Peter Schiff Warns Of CRASH: ‘Everybody Is Going To Get Wiped Out!’
08 DecThe Recusant
"Schiff also said no one knows when this is going to happen for sure, only that it will happen." Peter has been warning of the next crash for years...
Meet The World’s Most Powerful Bitcoin Backers
07 Decsonora69
Why run a business or work for one when you can mine bitcoins for the price of the servers and electricity? The higher the price of bitcoin, the mo...
What Now?
04 DecDoom
Mathematically, doubling down is an amazingly powerful strategy...until it isn't. http://professorconfess.blogspot.com/2017/11/doubling-do...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
03 DecS W.
I put the Flat Earthers in the same category as those who believe there is a God, a Heaven and a Hell.
Whipping-Post Politics
02 DecMr. Gnawbone1
I couldn't agree more, Keillor's dismissal was a bridge too far, but it is reflective of the fear, by Boards of Directors across the US, guiding ...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
30 Novprljr1
The majority of Humans are ignorant. Private central banking is a prime example of what the majority will swallow as a working financial syste...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS