India May Have Imported Over 200 Tonnes Of Gold In November
December 16, 2014Financial Markets
This would not include smuggled gold:
Via Reuters, the Indian service NewsRise reports (source: Brimelow Gold Jottings): “India provisionally imported more than 200 metric tons of gold in November, the highest-ever in a month so far this fiscal year to Mar. 31, according to initial data collected by the customs department, a senior finance ministry official said today” Link: Signs Gold May Be Headed Higher
There are a few reports – of course never researched or referenced by the financial media – of extremely tight supplies of physical gold. Johnson & Matthey sold its gold and silver refining operations (makes gold/silver bars for investors and Central Banks) to Asahi of Japan. A colleague of mine chatting with a J&M employee last week and was told that there was not much gold available (for input for the refining operations).
James Turk said in an interview on King World News that Gunvor, one of the world’s big commodities trading firm, had closed down its precious metals trading less than a year after starting it up. Why? “‘Gunvor executives decided to abandon the precious metals trading business partly because of difficulties in finding steady supplies of gold where the origin could be well docuмented.’”
The world is running short on the availability of “clean” physical gold. By “clean” I mean gold this not hypothecated or encuмbered by a lease – gold that has a clean title and can be shipped immediately from the seller’s vault to the buyer’s vault.
There’s a massive short squeeze in gold ahead of us. It’s just a question of what will trigger it. Perhaps Putin will get tired of the U.S. taking pot shots at the Russian ruble and exert his nuclear option of squeezing the U.S Government’s fraudulent currency and fraudulent paper gold system.
Topic: Physical Gold Shortage (Read 402 times)