gold chat, page-231

Dillinja,

Hey thanks for the video of "On the Eve of Destruction", I enjoyed it, but I think the only thing that's on the Eve of Destruction is the goldbugs wallets.

Goldman Sachs have just said that QE in September is unlikely, if ever at all.

The WGC say that global demand for gold fell to its lowest level in 2 years.

WGC also say:

Indian gold demand down 38%.

Indian investment demand down 50%.

Indian jewellery demand down 30%

Indians sold 30 tonnes of scrap gold in Q2 (most in 3 yrs)

Global gold production up to 706 tonnes, 3 tonnes higher.

Chinese gold demand down 7%.

Worldwide gold investment demand down 23%.

Coin and gold bar demand down 10%.

US coin and gold bar demand down 27%.

Global jewellery demand down 15% in Q2.

Industrial gold demand down 5% on a year ago.

Better not back the truck up just yet because gold's liable to get a whole lot cheaper soon.