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DiggerUK
Member since October 2013
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Gold and Silver ETF Inventory Changes For 2013 - 942 Tonnes of Western Gold Gone

- Jesse - Le Cafe Américain

Yes, holders in ETF's are dumping gold.......and have been for a long time now, it's this sellers pressure that is helping drive the price down from it's high in September 2011.
I know it cocks up the manipulistas arguments, but hey, the truth will out. Including the predictions that the warehouses were going to default, hoaxer Maguire even claims that an LBMA default is imminent.
Former ETF holders seem to be raising liquidity to ride the sugar rushing equities market into the rekindled 'boom' When that heads off to Palookaville golds fortunes should be rosier.

Although the political populists in Germany have got the government committed to repatriating gold, the civil servants seem to have realised that German gold needs to be closer to the dollars to ease fx trades, and have done a Sir Humphrey........same as they have left gold in London to be near the biggest world fx market. Didn't have any problem getting gold from France, did they. ,

Silver was always a waste of time as an investmentt......and should the world not have run out of silver by now?..........serial car salesman Maguire said so, didn't he.
..._

Commented 3768 days ago

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Beginning of the headline :The drain of gold from the Western ETFs and Funds is apparent. About 942 net tonnes have been removed. This compares to the 856 tonnes that had been removed as of mid-December. That is quite a bit of bullion moving out in just a few weeks. But even more notably, this is in sharp contrast to silver, which has had about 992 net tonnes added. On a percentage basis silver has had a worse price performance this year compared to gold, so ascribing this to investor preference seems a bit thin. ... Read More

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