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kingworldnews.com / January 28, 2017
In what promises to be a wild 2017 we are already seeing physical gold and silver supplies drying up in London’s LBMA as the price of silver surges.
James Turk: “There has been a lot of gold and silver moving to China recently, prior to the Chinese New Year, and that’s starting to show up in terms of the lack of liquidity over here in London. And even as prices were going down as the options were ready to expire, we were seeing backwardation in gold. The spot price of gold was a dollar or so above what February delivery prices were and it was only a few days until February delivery. So we are seeing the tightness in terms of the way the market is trading. We are also seeing the tightness in terms of the spreads and the backwardation in gold plus the metals flows themselves. Eric, I keep reminding myself of where we were several years ago, back in 2009-2010. We have those same kind of circumstances (where gold and silver skyrocketed) developing
Read more ... source: The Bitcoin Channel
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