With COMEX Gold inventory going every week down and leverage in the Fractional Gold Reserve System standing at 69 all-time-high now, China's and others Asian countries' appetite for Gold is truly amazing. In order to balance this dramatic divergence we need much higher Gold prices to make the additional Gold supply available.
Gold mining companies are cutting the projects pipeline and putting exploration and new development on hold restricting future Gold supply even more.
"Jesse has updated the latest information from COMEX and it has even higher leverage now: Fractional Gold Reserved System is run at the all-time-high leverage with 69 Owners per 1 ounce of Gold."
"All games with Gold price manipulation have lead to two most significant outcomes for the Supply and Demand in the Gold market this year. China, Turkey and Thailand are all buying the record amount of Gold and pushing demand through the roof. Brazil and others are joining the club as well or consume all the gold produced like Russia.We can safely add India here even with all efforts to curb the official demand by the Central Bank, amount of smuggling is hardly controlled by the government there."