According to Eric Sprott, the supply of gold scrap being recycled is dropping by 50%. This equates to about an 850 ton loss of supply in his estimation. An amount equal to all of India's annual imports!
And just for you hap, it's from King World News.
FWIW - I went to my local gold shop and asked him how business was? He stated that he was off on the scrap buying side by 28% year over year and slightly up on the sell side...
Can anyone else provide any local reporting that would support Sprott's claim?
Really only the manipulated paper price of gold is dropping. It's all just a trick that the banks are using to fool you into selling your physical gold. Actually this weeks COT report shows that the banks were recently buying gold while simultaneously speculators were selling or shorting gold.
"According to Eric Sprott, the supply of gold scrap being recycled is dropping by 50%..."
Maybe you should take a bit of scrap gold down to one of those people who advertise that they will take it off your hands, only to discover that the counterfeit money they will give you in return is much less than it's worth.