London Trader - The LBMA Gold Price Fixing Scheme Is Over - KWN

When you see 315 tons of gold was purchased by China in the first five months of the year, that’s just the tip of the iceberg.  That 315 ton figure that was recently reported is patently false.  That’s just what they can’t hide.  The actual amount of gold China has accumulated is many times that 315 ton figure.

The buying is relentless.  It’s every single fix, every single day.  The Chinese are eventually planning to have gold back their new currency, which is going to replace the dollar as the reserve currency.”

The London Trader also added:  “It’s not just Chinese demand impacting the physical markets.  It’s the Middle-Eastern countries and Russia and so on.  Investment demand for silver is also picking up at these levels.  Demand is coming from the Middle-East, and India has also become a bigger buyer of silver.

I would also add that you see a great deal of negative press regarding gold.  Many are saying, ‘Look at 2008, they are going to sell gold along with everything else and it’s going to crash.’  What people don’t understand is gold is on its way back into the financial system. Source/full story - KWN