See where the COMEX has had big calls for gold delivery and there is a shortage of physical. Big dealers now going direct to refineries and told there will be a ten week wait. London bullion banks will be complying with BIS rulings in about 3 weeks to ensure the comply officially a couple of weeks later. China to announce gold backed currency at the same time. According to Andrew McLeod, physical flowing to Switzerland and China and out of London. So the conclusion is that the gold market with the BIS rulings will shift demand to physical and away from paper because gold has gained status along with a basket of currencies for international trade settlement. Timing looks good to me. Seasonally, post December gold price rose in the past. Think the trend up will get a bit more of a boost.
GSR Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
