by Julian D. W. Phillips, Gold Seek:
U.S. Bear Raid on Gold and its Sale out East
In 2013 we have seen, so far a massive bear raid on the gold market in the U.S. led by the big banks, JP Morgan Chase and Goldman Sachs, who along with their clients engineered the price of gold down, first with massive short positions on COMEX added to by selling over 200 tonnes of the physical stock of gold they held. This added to the persistent selling from the SPDR gold ETF which saw well over 400 tonnes of gold sold from it and a fall of 200 tonnes out of COMEX warehouses. The total was close to 1000 tonnes of gold.
This gold went east to Asia who picked up all the stock available. This demand was portrayed as only due to the low prices; however, this isn’t accurate.
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