lots of headlines in the media saying COMEX is importing huge amounts of gold for physical delivery from London and Switzerland before the tariffs on Canada and Mexico apply.
But is this right - if tariffs were the reason they should be getting more gold from Canada and Mexico to avoid tariffs.
Why import from London and Switzerland as they won't be subject to tariffs?
Even if the tariffs apply to gold (and they may not be) all Canada and Mexico need to do is ship it to countries not subject to the tariff have it refined and sent it back to the USA.
Some experts in the gold market believe the tariffs are a smokescreen for what is really happening in the gold market.
If tariffs are the reason won't we see POG fall if the tariffs do not apply to gold and maybe even if they do apply.
But will the POG keep climbing higher? And are we really seeing the beginning on a gold short squeeze which may push the POG up a lot higher?
SPR Price at posting:
$1.35 Sentiment: Buy Disclosure: Held
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