UPDATE: Chinese Gold and Silver Exchange runs out of gold bullion – 4/19/13
Friday, April 19, 2013 20:56
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Dear All,
Bloomberg Asia Television today interviewed Haywood Cheung, president of Hong Kong's 100 year-old Chinese Gold and Silver Exchange. The Exchange, which is essentially a physical market has according to Cheung, sold out of most of its gold bullion: Bloomberg Asia: Gold exchange runs out of gold
A plethora of reports indicates that there was an extraordinarily powerful global run on physical gold this week in response to the bargain paper prices brought to you by the usual suspects.
The current gold price is untenable. Higher prices are coming, and quickly.
Best,
Jeff
2013-04-19 20:49:20
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