Sunday, 2 August 2015

Shanghai Gold Exchange Has 73.3 Tonnes of Bullion Withdrawn Its Third Largest Week.



  China continues to accumulate gold at record speed and FED's task is more difficult by the day: the lower price goes the more Gold Chinese are buying. This rout in the Chinese stock market will be another catalyst for Gold in China once margin calls will be settled.


Gold Catalyst: Don Coxe: Bull Market in Bonds Now Ending - Risks Ahead.



  The next catalyst for the gold market will come with the realisation that bond bull market is over and that institutional investors are losing money. Incredible concentration of the bonds holdings will ignite the volatility and when institutions will be heading to adjust the duration of their portfolios following the rising rates the buyers will be gone. No bids mean liquidity freeze and more losses in safe bonds. When mum and dad will start selling out this process will reignite itself. All we need for the gold market to return to the fireworks is 1% of those money reallocated out of bond portfolios. Read more.


TNR Gold: Shotgun Gold Project Development in Alaska.


 "Nova Gold has published its new presentation for PDAC 2015. Now you can find more information about Alaska as mining jurisdiction and Donlin Gold type of Gold deposit. TNR Gold owns 100% of Shotgun Gold project in Alaska, which has very similar geology to Donlin Gold, according to Greg Johnson - one of the founders of Nova Gold. Read more."





Jesse's Cafe Americain:

Shanghai Gold Exchange Has 73.3 Tonnes of Bullion Withdrawn Its Third Largest Week.

For the week ending July 24th there were 73.289 tonnes of gold bullion withdrawn from the Shanghai Exchange into China.

That is about 2,356,296 troy ounces in one week.

I have included the most recent statistics from the Comex Gold Warehouses below.  There are currently 351,519 ounces of gold available for delivery at these prices there for the month of August.

Nine out of ten Americans will notice that in terms of technical analysis this is 'a lot less.'

But as the very serious people like to point out, the Comex is not really 'a physical exchange.'  Yep. 

And as you may have seen in the posting from earlier today showing the sea change in leverage over even the past ten years there, it is seemingly getting a lot less physical all the time, even compared to just five or six years ago. Winning...

Even the US Mint seems to be getting in on the act.  The mint sold 202,000 ounces of gold in the form of coins for the month of July, one of its largest monthly sales totals in several years. 

That's a lot of pet rocks.

Do the math. I wonder where the poor, deluded ignoramuses who obviously do not understand finance are getting all that money to spend on such worthless trifles.  Does the US Mint take food stamps?

While they last.

This chart is from the date wrangler Nick Laird at sharelynx.com.