What’s unravelling is gold price suppression

Posted by Adrian Douglas- Richard Russell comment

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“My guess is that gold has bottomed. Too many investors and too many cental banks are potential buyers of gold. And they are ‘bottom-fishing.” – Richard Russell  July30th/2010 Dow Theory Letters –

What’s unravelling is gold price suppression

“So investors have bought a record amount of “physical gold,” which is actually paper gold that they have never seen, and only about 2.3 percent of what has been sold actually exists. The bullion banks are “awash” with liabilities for the record amount of gold they are supposed to be holding. Investors are now distrusting the bullion banks and are asking for delivery…” – Adrian Douglas August 1st/2010

“When 45 ounces of gold are sold but only 1 ounce is sourced, the result is a massive suppression of the gold price. But the converse is also true: When 45 ounces of gold are demanded for every 1 ounce that is in the vault, the price explosion is beyond imagination.” Adrian Douglas

….read the whole article HERE