Chinese Gold Demand is Exceeding Global Production

Right now I’m focused on two things: The first is that final Chinese demand as approximated by the gold that goes through the Shanghai Exchange now exceeds estimated global mining production. We had been talking late last year when China had gotten to the point where they were buying roughly 100% of mining production, but now they clearly exceed it...

This should bring forward the date at which the gold suppression scheme comes to an end.

The second thing I’m focused on is what we’ve been discussing for the last several months is now starting to appear in the mainstream media. I think it was on Saturday that the Financial Times ran a piece in which the basic theme was that the open interest, the contracts that are outstanding and could theoretically could be converted into physical gold, greatly exceed Comex inventories.

- Source, William Kaye via King World News, read more here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/29_The_Gold_Price_Reset_Will_Stun_The_World_In_2014.html