GOLDBUGS AMEX Goldbugs Index (GOLD)

[peel+green]

Only 24 hours since the fraud of QE has ended so it's a bit early for any of us to get definitive about the cessation effect on the POG.

With news of China on track to import another 2000+ metric tonnes this year following a similar amount last year there is no doubt that demand in the east is still steaming. If it's a fully supplied market then Germany should have all its gold back by now, so I wonder why they have only received about 40 tonnes after nearly two years. The Bundesreich members are probably asking about that also.

As the Gold Futures market IS the manipulation I'd say that the naked short sellers of gold there are trying to influence the Swiss referendum. At the moment I think they want to make $1200 a ceiling.

As usual they run the risk of stimulating even greater demand for gold in eastern nations far more effectively than trillions of QE dollars stimulated demand for anything at all.

Russia appears to be increasing its Gold imports and whilst I have been doubtful of a possible default in the LBMA or in Comex over recent years I think this is a risk that is growing.

Just MHO