Good to see you G ! Tenebrarum makes some good points, but he's still blinded by his market bias. His assumption that the indicators he bases his theories on are a result of natural market factors is the Achilles Heel that leads him to an erroneous conclusion.
Until the fantasy "supply" is capped with some sort of restriction limiting the amount of "paper gold" that can be manufactured out of thin air by the banks to cap the gold price at any time, he will continue to mislead and be mislead.
He cannot for example, ignore 60% of global mine production hitting the market in the space of 40 minutes for no apparent reason other than to suppress the gold price.
He never once mentioned geopolitical risk either, which as we know is one spark away from starting a wildfire in any one of several theaters of operation.
I think our friend Pater Tenebrarum is getting a little too "Macro" for me. He's ignoring too many immediate factors.
Those "micro" factors I mentioned are real and just the tip of a much bigger ice berg supporting a higher metals price.
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