from Gold Silver Worlds:
While the mainstream media is focused on the physical gold outflows from the GLD ETF, the alternative media keep on focusing on the gold reserves in China, Russia, India, Turkey.
We definitely believe that, without participation by Western investors, there is no big chance to see higher gold prices any time soon. On the other hand, the evolution in the physical market as a consequence of the insatiable gold demand in the East will have most likely effects longer term. Although we have written about it extensively, this point was nicely summarized very recently in our piece “How Eastern Gold Demand Is Transforming The Gold Market“:
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