When silver and gold tanked, MSM told us nobody liked the metals anymore
Remember all the MSM pundits coming out of the woodwork Monday (3 days ago) telling us gold and silver were now being sold off by even small investors all over the world. So in light of what was really occurring we have to ask ourselves (once again) if those pundits were just lying, deceitful shills for the big bankers or were they just completely blind?
Now we find out that the U.S. Mint sold a all time one day record of gold coins yesterday (2 tons) and more gold was sold in the first half of April than in the previous 2 months.
Additionally, today Bloomberg now prints this:
"Gold prices climbed in New York on signs that demand is rebounding among consumers and investors.
Gold retail sales tripled across China from April 15 to April 16, the China Gold Association said. In India, demand climbed to the highest this year, according to the All India Gems & Jewellery Trade Federation. The nations are the world’s top bullion buyers."
Yes, physical and paper prices for gold seem to be disconnecting and as far as demand is concerned....I'm not worried and I'm not listening....to those big bank analysts who churn out the most disgusting garbage an analyst can churn....deceitful propaganda!
Metal prices will rise on physical demand and EXK will rebound from these fundamentally ridiculous low prices.
I just got off the phone with my local coin dealer whom I've done business with for years. He said he was basically cleaned out and there was no point in coming down to his store. He's out of all gold and he only has a limited amount of silver eagles left. Seems like there is a real disconnect this time around between the physical demand and the paper price. Another dealer I called actually had inventory but wasn't going to sell it for less than $30/oz. I have to believe a sea change is occurring.