“I’ve been of the mind for a considerable period of time that the gold price really wouldn’t accelerate to the upside until such time as the physical market finally overwhelmed the paper market. But I think we’re reaching the stage now where there is mounting buying of physical because people are starting to realize the paper price is fraudulent.” John Embry
Oh no! Not again!
Given that the physical market and the futures (aka “paper”) market serve different purposes, it is difficult to imagine how one would “overwhelm” the other. Would owning race horses “overwhelm” betting at the TAB?
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