Latest episode up this morning..
If you’re wondering why the price of gold
is still holding at these levels.
In a nutshell it’s the investment banks and big institutions buying physical gold and silver in the dealers and spot markets and then holding up large short positions on the COMEX futures market.
Jan 1- the basal 3 compliance means any paper positions need to be backed by the physical metal.. And the current unallocated paper market is 100times or so the size of the physical market..
Anyway, Andy Maguire explains it well. He expects to see a decent rise in the price of gold and silver into the new year, because these short positions will have to be covered and the demand for the underlying has been pre- purchased well into 2022.
https://m.youtube.com/watch?v=Y0l7dNC5lq8#dialog
Ann: Video Presentation - Dec 2021 RIU Conference, page-19
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