AND THEN THERE IS THIS... AND MORE AT LINK:
Maguire - “Stunning” Physical Gold Buying Terrifies Shorts
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/24_Celente_-_The_Entire_World_Is_Now_Unraveling_Before_Our_Eyes.html
Today London metals trader Andrew Maguire told King World News that the physical gold buying which took place in London on Thursday can only be described as “stunning.” He also said this terrified the shorts and created the panic spike in gold that shocked many market participants that day. Maguire also described what is happening the scenes in the war on gold, and with gold demand in his remarkable interview below.
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Maguire: “Just like last week, this week was all about the funds trying to protect large naked short positions. They were trying to paint the gold price under the 50-day and the 10-day moving averages. This is a perfect example of how this paper-centric hot money is totally out of touch with the global bullion markets....
Continue reading the Andrew Maguire interview below...
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“They forget that the price they are pushing down is actually related to something real -- to real bullion supply and real fundamentals. So they build up these massive naked short, undeliverable positions. They pay no heed to the huge flows of bullion headed East into unleveraged markets.
On the physical side this week, we saw large physical buyers, and they’ve been waiting for the Goldman Sachs ‘Promised Land.’ But they entered the market once they saw the funds were wavering at the 50-day moving average. The physical gold buying that took place in London on Thursday can only be described as ‘stunning.’
And here is the difference -- those close to the wholesale market know just how tight the physical market is, and they are happy to watch these heavily leveraged funds chasing price down in the paper markets. At the same time, the physical buyers are picking off the bullion at every single fix in London.
This is an important point: These physical buyers know when to call it a day, and they move in to buy in size when the managed money, or ‘hot money,’ is vulnerable. And while this hot money is defending the technical levels, these physical buyers (which are mostly sovereigns) are able to buy into this selling pressure.
But gold broke out yesterday, and we ended up with the strongest fix of the year in London. What was significant about this is that we saw 5,900 shortly-to-expire February Comex contracts, which is over 18 tons of Comex contracts, these are front-month futures and they were bought directly at the fix in order to meet what was reported to me as a 15-ton wholesale order. This was in addition to the normal physical buying.