by David Kranzler
Investment Research Dynamics
Western anti-gold propagandists have been scratching their head over the surprising strength in the gold market despite aggressive Central Bank efforts to push the price lower. Here’s a perfect example of the idiotic articles hitting the internet – this one from Investing.com: Bring Out The Bears: Gold Is Headed Lower. This author refers to gold as “the shiny rock.”
Anyone who’s traded gold for a reasonable length of time knows that simple T/A applications are utterly useless. This author’s work is T/A scatology. I see he operates something called “Dragonfly Capital.” Dear god I hope he’s not responsible for managing other people’s money…
The recent strength in gold is widely being attributed to vigorous “western” demand. Other than the fictitious run-up in GLD’s reported vault holdings, and the record Q1 2016 quarterly demand for U.S. minted gold eagles, it’s hard to see whether or not the west is buying up a lot of physical gold or not.