London Trader - Staggering Gold Demand Creating Shortages

Discussion in 'Gold' started by projack, Jan 18, 2012.

  1. projack

    projack Well-Known Member Silver Stacker

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    http://kingworldnews.com/kingworldn...taggering_Gold_Demand_Creating_Shortages.html

    The euro physical gold demand is off the charts and it is creating shortages for metal, in size, here in London.
    The physical gold market is actually being drained by euro gold buyers. People are converting their euros to gold and there is only a finite amount of physical gold available. Again, that's why you are seeing the dollar and gold rallying together.

    These paper markets are a joke. Nobody who is seriously in the business of taking physical delivery is trading on the COMEX anymore. That is big news. The COMEX is no longer a credible marketplace....

    "You now have international funds, whose compliance departments are saying to them, 'You can no longer trade on the Comex because the CME did not back client accounts.' There are a tremendous number of international funds and hedge funds that can no longer trade on the COMEX as of the first of this year because of compliance reasons and no one is talking about this. This is huge news.
     
    projack, Jan 18, 2012
    #1
  2. adze67

    adze67 Well-Known Member Silver Stacker

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    Good advice ;)
     
    adze67, Jan 18, 2012
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  3. Nukz

    Nukz New Member

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    I wonder who the London trader is, Kingworld news has based previous story's off this London trader... do they even exist?

    I guess if it is true it can't hurt :)
     
    Nukz, Jan 18, 2012
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  4. goldpelican

    goldpelican Administrator Staff Member

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    This is massive.
     
    goldpelican, Jan 18, 2012
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  5. Silverfreak

    Silverfreak New Member

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    Eggsellent Smithers, Eggsellent!
     
    Silverfreak, Jan 18, 2012
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  6. Scope

    Scope New Member

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    "London trader", if I'm not mistaken, is referring to the Bristish trader who famously said in mainstream news that "Goldman Sachs rules the world".
     
    Scope, Jan 18, 2012
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  7. bron suchecki

    bron suchecki Active Member Silver Stacker

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    London Trader is Andrew Maguire IMO. I think he tends to hype. We have good demand out of Europe but its not "staggering".
     
    bron suchecki, Jan 18, 2012
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  8. hiho

    hiho Active Member Silver Stacker

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    party pooper :p
     
    hiho, Jan 18, 2012
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  9. Scope

    Scope New Member

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    Not saying you're wrong (because you could still be right) but King World News has referred to Andrew Maguire before as simply Andrew Maguire instead of "London Trader", like in this article http://kingworldnews.com/kingworldn...BMA_Shorts_Will_be_Forced_to_Take_Losses.html
     
    Scope, Jan 18, 2012
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  10. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I would like to see some confirmation of "massive Euro demand for physical gold draining London supplies" before I get too excited. As Bron pointed out, the PM isn't seeing "staggering" demand for their gold.
     
    Shaddam IV, Jan 18, 2012
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  11. Silverthorn

    Silverthorn Well-Known Member

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    Silverthorn, Jan 18, 2012
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  12. projack

    projack Well-Known Member Silver Stacker

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    Can someone confirm these volumes are really that low compared before Christmas?

    [​IMG]
     
    projack, Jan 18, 2012
    #12

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