“China Gold Demand Picking Up Strongly This Month”

While the London and New York fraudulent paper gold market continues to function as the price-setting markets for the global price of gold, China continues hoovering physical gold. In the latest week reported (June 8-12), 46 tonnes of gold were removed from the Shanghai Gold Exchange.  This puts the year-to-date total at 1,061 tonnes, which is up 20% for the same period over 2014 and 7% over 2013.   Koos Jansen refers to the YTD total as “staggering”  LINK.

The actual amount of gold being “consumed” by China is quite contrary to the flood of bearish media reports on gold this year, including several which characterize China’s demand a weak.  The reports, of course, are entirely misleading as they rely on data from the World Gold Council.  The WGC only tracks and publicizes gold which enters China through Hong Kong.  This is despite the fact that China opened up Beijing and Shanghai for gold imports specifically to mask the amount of gold that it is bringing into the country:

Opening the capital as the third shipment point will help the PBOC keep purchases discreet as it is believed to be adding to its bullion reserves.  – South China Morning Post, April 21, 2014 – LINK

Of course, the western media only uses factual reporting when it fits the propaganda it promotes.

Lawrence Williams has written a short piece describing the facts about the amount of gold flowing into China vs. the media disinformation:

Contrary to a number of media reports telling us China demand for gold has collapsed, and also that premia on the Chinese gold markets have turned to discounts, the latest figures out of Shanghai belie these statements…We have been calculating that perhaps around 40% of Chinese gold imports are now coming in directly rather than via Hong Kong which makes the Hong Kong figures, as reported by the mainstream media, no longer indicative of total Chinese demand.

Here’s the link:  China’s Gold Demand Is Strong

We can pnly wonder how much longer London and NYC can rig the price of gold, as occurred in overnight trading into Monday morning:

GoldJun21Once again gold was somewhat steady during Indian/Asian market hours. Rumors about a deal with Greece started to appear shortly before Asia closed and London opened. Of course the market manipulators used this as an opportunity to put downward pressure on gold.  Then the Comex opened.  Selling hit the Comex floor right at the floor trading opened at 8:20 a.m. EST.  There was no news or events that would have triggered selling by an investment account that was long gold futures.  This was yet another blatant paper attack on the price of gold by the banks, acting on behalf of the policy-makers at the Fed and the U.S. Treasury – collectively the “Plunge Protection Team.”

Of course, it’s easy to put the blame on an HFT hedge fund.  But this is nothing more than a shameless manner in which the truth gets repackaged by the elitists and served up the masses wallowing  in a cesspool of denial and hungry for a fairytale.

But here’s the truth:



3 thoughts on ““China Gold Demand Picking Up Strongly This Month”

  1. Hey Dave Kudos to you. The “F”in Chinese & Russians, and those nations and people that align with their ideals are destroying my way of life. I get that I feed ( like a vampire) off the world and that this day would come. Still..I suppose ripping off the world was a right earned by my fore-bearers. I doubt we have the fortitude or leadership to submit the world again, and therefore must accept our lack of destructive capability and where it positions us in the hierarchy of things. A new day is dawning. The same as yesterday, but different.


    However…IMHO This world is led by the most brutish of notions. Too bad really…it could be so much more…

  2. China is going to “Sun Tzu” the west, wherein he states that the epitome of supreme excellence is to subdue your enemy without firing a shot.

  3. Although the time will come when the metals will have their day. It won’t happen until “they” are going to let it happen. I see all sorts of “reasons” the metals are going to go up…it has not happened, has it? Until all the bloggers keep saying support is here or there…the central banks see this and will chase you out. Until there is a capitulation, the market will go nowhere. Listen up…I’ve been around these markets since 1977. When silver hit $50 in 1980, all those metal pushers talked of buying the metal all the way down for around 20 years. Brilliant! Same thing is happening now. All the way from $50 the bloggers are still saying buy because support is at some “technical level”. Don’t you think the central banks exploit this? I know this because I was in the pits back then. Keep in mind that a stopped clock is right twice a day…do we not have the same scenario now? I feel three things are needed to see this market ascend:
    1. All you bloggers need to get the fundamentals out of your heads. It is meaningless in a rigged market.
    2. All you bloggers need to capitulate and admit you blew it (at some point you’ll be right…) and that the metals market is a bad market to be in. After all, all you bloggers were hollering buy buy buy ever since it hit $50. Now it’s $16. Brilliant! I fully realize it’s a hedge…but hedges have to put on properly. Blatantly buying on the way down is just plain stupid. Trend is down until it changes. It’s still a down trend whether you like it or not. Yes, we get consolidations now and then…but that is normal in any market movements. Get used to it and get over it. Picking bottoms (catching a falling knife) is just plain stupid!!
    3. We need major producers of the metals to go belly-up. We had a great buy signal when Homestake Mining closed down. Around 20 years after it hit $50.

    Don’t forget that a market will bottom out when “they” decide it and will top out when “they” decide it. Not you bloggers….period.

    Furthermore, using data about movements of metal is fruitless. So you all believe this “alleged” data coming from “them”, but you all admit the market is rigged (referring here to all markets, by the way). So how can you believe that the data you get about the metals is all true, but openly admit all else is a lie? All the data more or less comes from the same manipulators. How do you decide which is true and which is false? All I can say in summary is when the bloggers say “buy”, I sell. When you all say “sell”, it’s time to load up.

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