“What we are seeing now is this consolidation pattern where the commercials are getting out of their short positions whenever possible. All the while they are squeezing fresh shorts. They take the metals down, make the charts look bearish to bring in fresh shorts and later they squeeze them out of their positions on a rally and pocket the money.
As I said earlier, we had a major physical buy order today. The Chinese bought a massive amount of physical today at the lows and that is why the market turned where it did because of the intensity of Chinese buying.
Having said that, most of the physical orders are sitting under the market now. There are major buy orders that did not get triggered yet and they sit between $1,585 and $1,605. We are talking about massive tonnage.”
Unbelievably this is part of a continued transfer of wealth from the West to the East. While our central planners try to figure out how to keep the broken system functioning, the cost to the West is we keep emptying our vaults of gold and shipping it to the vaults in the East.
Kingwoldnews.com
