17-04-2013, 02:26 PM
More from Tyler Durden at Zerohedge:
Despite this the price of gold is still well below $1,400 an ounce, as the paper market continues to do its dirty work.
It really is shocking to have a market trading in something real that can be so completely price driven by nothing at all real. The world upside down says hello!
The roulette wheel spins, the chips are placed...
Quote:Gold Buying Frenzy Continues: China, Japan, And Australia Scramble For Physical
Submitted by Tyler Durden on 04/17/2013 08:47 -0400
Australia China Japan National Debt Reuters Yen Yuan
We noted here that the plunge in the paper price of gold (and silver) had prompted considerable renewed demand for physical and now it seems the scramble among the "more stable investor base" is increasing. The shake out of ETFs and futures has left the Australian mint short of deliverables and Japanese and Chinese gold retailers seeing a "frenzied" surge in demand. The customers are not just the 'rich' or 'elderly'; in China "they tend to wear water shoes and come directly from the market...;" in Australia, "the volume of business... is way in excess of double what we did last week,... there's been people running through the gate," and Japanese individual investors doubled gold purchases yesterday at Tokuriki Honten, the country's second-largest retailer of the precious metal. The panic selling by a weaker 'imminent inflation-based' investor base has sparked physical shortages - "there's been significant sales made as people see this as great value." It seems our previous discussions of a rotation from paper to physical were correct and this physical demand will eventually leak back into the paper markets.
Despite this the price of gold is still well below $1,400 an ounce, as the paper market continues to do its dirty work.
It really is shocking to have a market trading in something real that can be so completely price driven by nothing at all real. The world upside down says hello!
The roulette wheel spins, the chips are placed...
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14