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Last month, I reported from the “Middle Kingdom” that Chinese retail gold demand was every bit in person what we read on paper.  The public DOES NOT STOP buying no matter what the price – as they understand it is REAL MONEY; and now that the Chinese government has been actively encouraging citizens to accumulate Precious Metals – for the past four years – the “proof is in the pudding”; as not only are 2013 Chinese gold imports on the verge of DOUBLING versus 2012…

Annual Chinese Gold Net Imports

…but so is PHYSICAL delivery at the Shanghai Exchange; which despite its lack of recognizably, is far larger than the COMEX in this aspect.  To wit, for the past two years, roughly ten times more gold has been delivered in Shanghai than New York; and this year, almost as much as has been produced worldwide!  In fact, anyone looking at this chart would reasonably conclude that not only should the price be much higher, but the ENTIRE WORLD should be facing a shortage; and not only that, but the global price setting mechanism should not be in the U.S., but CHINA (which it someday soon will)!

SGE vs COMEX Delivery and Global Gold

This is why the Cartel is so fixated on preventing momentum from building in the PM markets; and thus, today’s 82nd visit from “THE 2:15 AM” in the past 91 days – as global stock markets don’t budge and Treasury bonds (post “no tapering”) continue to rise…

24 hr Gold 9-24 9-23

Well, that – and this (and don’t forget what’s been added since re-election)…


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