This page has been archived and commenting is disabled.

Russian Banks Buy 181.4 Tons Of Gold In 2013

Tyler Durden's picture




 

With headlines crowing of gold's worst year since 1981 as a signal that the status quo is winning and proof positive that fiat-currency naysayers must be wrong, it would appear that the rest of the world's central banks (and banks) have used the price depreciation to stack the precious metal. As Bloomberg reports,

  • *RUSSIAN BANKS BOUGHT 181.4 TONS OF RUSSIAN GOLD IN 2013: RIA
  • *RUSSIAN BANKS BOUGHT ALMOST 90% OF RUSSIA 2013 GOLD OUTPUT: RIA

This 5.834 million ounce addition (8.3% YoY) is more than double that of Russia's central bank additions in 2013 with Bitcoin-favoring Sberbank piling up 48.5 tons alone in 2013.

 

Russia's central bank added 2.485 million ounces to November - so the bank additions are very large...

 

Biggest buyers according to Finance Ministry include Sberbank (48.5 tons), VTB (38.9 tons), Gazprombank (29.1 tons), Nomos Bank (19.6 tons), Lanta Bank (8.6 tons).

So, like China, we are sure Russia will be sending a big "Thank You" to the Fed (and BIS) for their efforts.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 12/31/2013 - 14:59 | 4289062 devo
devo's picture

This is why the saying goes: "Sell once Central Banks are buying"...

Are ZH writers 12?

Tue, 12/31/2013 - 14:58 | 4289074 realWhiteNight123129
realWhiteNight123129's picture

Sell when nobody even yourself, your wife and parents beg you not to sell while people pass on stocks paying 8-10% dividend yield. There will be such a time when nobody wants financial assets and people who want to swap their gold for finanical assets are considered insane. We are not at that point yet by any stretch of the imagination.

 

Tue, 12/31/2013 - 15:07 | 4289095 devo
devo's picture

Whatever. You're spouting YouTube bunker-dweller rhetoric.

I like gold and it's still in a bull market and will go up again, but ZH seems clueless sometimes. Like pretty much everyone who follows financial markets knows you never fight the FED, sell gold when CBs are buying, etc. It's all been smart advice this time around, too, despite the doom and gloom end of the world talk.

I'm just an equal opportunity propaganda hater.

Tue, 12/31/2013 - 15:13 | 4289113 Temporalist
Temporalist's picture

Well...everything is propaganda so just label yourself a nihilist and call it a bad 2013.

Tue, 12/31/2013 - 15:12 | 4289117 devo
devo's picture

That's pretty much what I do. Sometimes the bullshit is too much and I lash out. I have to bench press my girlfriend while watching Jim Cramer so ZH is still one up on the mainstream media.

Tue, 12/31/2013 - 15:18 | 4289130 negative rates
negative rates's picture

Gees, just at the moment when I thought all my tungstun was gone! Photo op.

Tue, 12/31/2013 - 15:29 | 4289162 BaBaBouy
BaBaBouy's picture

Meanwhile... Canada Selling Last Few Ozs Of Its GOLD!

WTF ???

RESULT: AMERICA Will Be Broke!!! LEFT Holding ALL THE FUCKING PAPER!

Tue, 12/31/2013 - 15:52 | 4289233 Racer
Racer's picture

No will be, IS broke already!

Tue, 12/31/2013 - 16:06 | 4289262 nope-1004
nope-1004's picture

Devo,

So is the US central bank buying gold?  Hmmm...  news to me.  I guess I should sell it then - except, they're NOT buying gold.  Foreigners are to diversify out of UST's..... the writing is on the wall for the US dollar.

Which life raft do you want to cling to when the ship sinks?

 

Tue, 12/31/2013 - 17:04 | 4289460 Four chan
Four chan's picture

bought from whom?

Tue, 12/31/2013 - 23:33 | 4290267 americhinaman
americhinaman's picture

devo -

one should do the opposite of what WESTERN central banks do, which is buy gold at the highs and sell gold at the lows.  western cb's also tend to telegraph far and wide what they are going to do, so that their citizens can get front-run by hedge funds and other traders.

on the other hand, EASTERN central banks (from eastern europe, through the middle-east, and asia) buy gold when it falls.  They rarely sell it, except during crisis periods, which I'd argue is exactly when anyone should consider selling.  they do not pre-announce that they're buying; they try to do it quietly and in a way that will not increase the price of gold.  they have so much in governmental savings (forex reserves) that they are constantly evaluating the best holdings for; it benefits them when prices of assets they want to accumulate decrease in nominal terms of the other reserve assets they hold.  they tend to post-announce that they have bought gold, if they announce at all.

Tue, 12/31/2013 - 16:05 | 4289271 Carpenter1
Carpenter1's picture

I live in Canada, people and government here are beyond clueless. Remember, 2008 had little effect on most people here(due to epic amounts of debt racked by gov't to hide the effects), so don't be surprised by Canadian govt stupidity.

Tue, 12/31/2013 - 16:15 | 4289298 robertocarlos
robertocarlos's picture

The govt is selling really old, bent, (probably tarnished) gold coins for more than their melt value.  Those 1-800-sell gld ads work.

Tue, 12/31/2013 - 16:43 | 4289400 Freddie
Freddie's picture

I like Candian gold more than Canadian beer.  American beer is mainly dog piss.

Tue, 12/31/2013 - 15:12 | 4289119 CrazyCooter
CrazyCooter's picture

... everyone who follows financial markets knows you never fight the FED ...

This is good advice all the way up to the day the Fed LOSES control and the economic forces of nature overtake it.

Tick. Tick. Tick.

Regards,

Cooter

Tue, 12/31/2013 - 16:48 | 4289409 TheLoveArtist
TheLoveArtist's picture

I cant vote you up scoots whats up with that

Tue, 12/31/2013 - 15:14 | 4289125 maskone909
maskone909's picture

ZH operates under the pretense that the market is rigged and that CB's not only buy gold, the lend it like FRB.  In an unstable environment like this its impossible to predict when the game is up.  however, when the time comes, you will most likely not be able to find any gold for sale.  You mad bro?

Tue, 12/31/2013 - 15:26 | 4289159 devo
devo's picture

Isn't "you mad bro" some obnoxious millennial saying from urban dictionary or forums?

That's a stupid thing to ask someone.

But yeah, I understand their thesis. Do you understand there have been guys predicting this since the 1940s? Yes, it will come true one day due to sheer mathematics, but ZH would do everyone a much greater service creating models to predict that exact day. That's at least interesting. Instead they instill fear so paralyzing people dig holes in the ground and live there. It's propaganda. Now with regard to this article, everyone who follows gold has heard that you're supposed to sell once CBs buy. ZH seems clueless to this. They seem amazed gold is down yet CB buying is up.

Tue, 12/31/2013 - 15:25 | 4289171 CrazyCooter
CrazyCooter's picture

but ZH would do everyone a much greater service creating models to predict that exact day.

I think you tipped your hand right there. :-)

Regards,

Cooter

Tue, 12/31/2013 - 15:29 | 4289177 maskone909
maskone909's picture

"Isn't "you mad bro" some obnoxious millennial saying from urban dictionary or forums?"

well no shit. do you have aspergers? the only argument you have is that, "it hasnt happend yet so it must be a lie". 

come at me bro

Tue, 12/31/2013 - 16:17 | 4289306 Carpenter1
Carpenter1's picture

Logic 101: The fact that something has not happened has nothing to do with the chances of it happening in the future. If it had already happened, the chances of it happening again would likely go down, particularly if we're talking about an event like a market crash or Black Swan.

 So, the argument that it hasn't happened, therefore it won't happen is illogical. Referencing contributing factors, which can affect the likelihood of the event taking place, is the logical approach to ascertaining the chances of the event taking place.

Tue, 12/31/2013 - 16:56 | 4289418 devo
devo's picture

No idea if I have Aspergers because I don't know what diagnosis entails, but even if I do, that's your retort? To make fun of a serious illness. Good one. You're a classy guy.

Tue, 12/31/2013 - 16:58 | 4289430 NidStyles
NidStyles's picture

I have Asperger's and I would likely crush you in any form of competition, mental or otherwise. We Aspies tend to be very competitive. ;-)

Tue, 12/31/2013 - 16:55 | 4289421 NidStyles
NidStyles's picture

Ah ok, so not only are you a prick, you are also a sophist and an ignoramous.

Tue, 12/31/2013 - 17:10 | 4289415 Harbanger
Harbanger's picture

@ Devo "Like pretty much everyone who follows financial markets knows you never fight the FED, sell gold when CBs are buying, etc."

Why do you look at "central banks" as a single entity?  The Fed is not buying Gold, they're selling what's left of the country's Gold.  The Central banks of China and Russia are doing exactly what's in the best interest of their particular Nation.

Wed, 01/01/2014 - 15:21 | 4291185 TheReplacement
TheReplacement's picture

Questions:  Are the western CBs selling or buying?  Is there any gold in Fort Knox?  Why is the gold price so low when demand is so high? 

I think that if demand for something that has staying power like gold is in high demand and you can get it at a fairly low cost then you should get it.  If prices rise, you can sell.  If prices lower you can buy more. 

Your point of view seems to be that it is a short term speculation.  I think most here look at gold as a long term store of value, an investment.  I also think people need to start differentiating between investing (long term) and speculating (short term) when discussing their own little points of view.

Thu, 01/02/2014 - 16:57 | 4294082 Notarocketscientist
Notarocketscientist's picture

I suppose if you thought that the fed could print money forever with no toxic side effects i.e. total economic collapse then ya - why fight them....

 

But I am of the opinion that you cannot print trillions forever - that the global economy will collapse - and it will happen very quickly - like it was happening in 08 until it was bailed out --- this time there will/can be no bail outs....  there will be a last gasp of massive printing --- then there will be a massive implosion (explosion?) leaving all asset classes virtually worthless.

EXCEPT GOLD --- because gold has never and will never be worthless. 

And when this happens YOU will be eating dog food - warmed over a fire of plastic bags under a bridge - and your daughters and wife will be whoring themselves to pay for your grand meal - and I will drive by --- and spit you

Tue, 12/31/2013 - 15:09 | 4289097 Xibalba
Xibalba's picture

I suppose that doesn't apply to treasuries....Or your logic is just upside down

 

 

Tue, 12/31/2013 - 15:10 | 4289107 devo
devo's picture

Not really, because that's not a 100 year old axiom tied explicitly to treasuries. Let's keep things real.

Tue, 12/31/2013 - 15:13 | 4289123 Xibalba
Xibalba's picture

I agree, let's keep thing real.  But then, gold priced in paper isn't real, is it? 

Tue, 12/31/2013 - 15:28 | 4289132 devo
devo's picture

I don't know how to answer that. I see guys selling it at the spot, paper price, so I conclude it is. You're basically saying CEOs who operate mining companies are stupider than you, me, etc. I also see it all over craigslist near spot price. If you mean GLD is fake, then yes, agree totally.

Tue, 12/31/2013 - 15:53 | 4289230 Xibalba
Xibalba's picture

Yes.  Was ref GLD, AGQ, ZSL, and the myriad of other derivative plays.  

Tue, 12/31/2013 - 15:18 | 4289143 ChaosEquilibrium
ChaosEquilibrium's picture

Devo: historically that adage holds true.............I digress and state the current state of affairs is atypical, abnormal and ANY reliance on past observations and trends is moot.....and can be quite dangerous and fatal!

 

Unprecedented policy can have chaotic outcomes!

Tue, 12/31/2013 - 15:26 | 4289164 AngelEyes00
AngelEyes00's picture

China buys gold

Russia buys gold

US prints fiat

Japan prints fiat

Winners/Losers

Tue, 12/31/2013 - 15:37 | 4289203 BanksterSlayer
BanksterSlayer's picture

@williambanzai7 tweeted 30 Dec :

There are signs that say do not flush foreign fiat down the toilet.

Tue, 12/31/2013 - 17:08 | 4289462 resurger
resurger's picture

you are against the tradition.

Tue, 12/31/2013 - 17:10 | 4289468 goldflows
goldflows's picture

Are you cenile?

Tue, 12/31/2013 - 17:55 | 4289591 Overfed
Overfed's picture

Yeah, well, when the check cashing places, pawn shops, and jewelery stores take down their "We Buy Gold" signs, then I'll start thinking that PMs are no longer a buy. 'Til then.....

Tue, 12/31/2013 - 14:55 | 4289069 astoriajoe
astoriajoe's picture

Barbarians!

Tue, 12/31/2013 - 15:00 | 4289073 Payne
Payne's picture

And Central banks are always right except for the last 100 years of Fed disasters.  

Tue, 12/31/2013 - 17:10 | 4289478 Harbanger
Harbanger's picture

"And Central banks are always right..."

Which central bank.  Every country has one?

Tue, 12/31/2013 - 15:01 | 4289075 DoChenRollingBearing
DoChenRollingBearing's picture

Having reached its goals in 2013, the Central Bank of DoChenRollingBearing will be buying less gold in the future.

This does not mean that our Bank is less confident in gold, merely that the Bank has attained its real goal: diversification!

If only 1% of Americans own any physical gold, their Central Banks better start moving while there still is gold.

Tue, 12/31/2013 - 14:58 | 4289077 orangegeek
orangegeek's picture

jump on board everyone - let's do what the communists do

Tue, 12/31/2013 - 15:13 | 4289112 Dr. Engali
Dr. Engali's picture

When you say communists I'm guessing you are talking about the current occupant of the White House. According to Reich we are all socialists now.

Tue, 12/31/2013 - 15:00 | 4289081 Grande Tetons
Grande Tetons's picture

Russia and China trying to pull a Lybia. 

Tue, 12/31/2013 - 15:15 | 4289127 JailBank
JailBank's picture

That is not allowed.

Tue, 12/31/2013 - 16:30 | 4289361 Conax
Conax's picture

No, I pulled the Labya and got my hand slapped once.

Tue, 12/31/2013 - 17:44 | 4289564 Herd Redirectio...
Herd Redirection Committee's picture

I think GT was thinking of Libya, not labia.

Tue, 12/31/2013 - 18:38 | 4289702 Sashko89
Sashko89's picture

by saying that they are trying to pull a Libya, are u saying that the USA and France are going to go in and bomb em???.. Bwhahahahahahahba please... Wake up

Tue, 12/31/2013 - 15:07 | 4289089 Fight-Club
Fight-Club's picture

My god, once Russia and China (let alone Venezuela) have enough physical they can destroy the US economically by raiding treasuries/spiking interest rates...decimate the west without a single nuke.

Tue, 12/31/2013 - 15:18 | 4289128 MTAR
MTAR's picture

I was wondering the same myself. It's always been protrayed as the US against the communists. I think we are about to feel the squeeze.   

Tue, 12/31/2013 - 15:15 | 4289131 SgtShaftoe
SgtShaftoe's picture

When the  Roman empire finally fell, the germanic armies that sacked Rome were looked to as liberators by the people outside the capitol.  We are basically at that point now, if not very close. 

Tue, 12/31/2013 - 16:04 | 4289269 Freddie
Freddie's picture

Reminds me of Putin.  At least he is a man and a leader who cares somewhat for the Russian people.  Bring on the liberators.

Tue, 12/31/2013 - 18:20 | 4289541 Harbanger
Harbanger's picture

Without realizing it, what most people admire about Putin is manliness and masculinity.  Something we haven't seen in the west since the feminazi's took over decades ago.  BTW- After the germanic "liberators", there were many 100's of years of "dark ages" for the west.  The Roman empire actually ended in the 15th century at the hand of muzzies.

Tue, 12/31/2013 - 17:23 | 4289516 Harbanger
Harbanger's picture

You are wrong on so many levels I don't know where to start.  But keep believing that.

Tue, 12/31/2013 - 19:06 | 4289759 SgtShaftoe
SgtShaftoe's picture

Saying "you're wrong" and running away without making an alternative argument is childish.  Spend some time reading Gibbon and others and you may see my point. 

Tue, 12/31/2013 - 20:27 | 4289851 Harbanger
Harbanger's picture

Ok.  You were wrong about the germanic tribes, they walked into a broken empire, like modern illegals do today.  You were wrong about their role as liberators, that implies that roman citizens from england to asia saw themselves as victims of imperialism.  You disregard the fact that the "empire" lasted for another 1000 years in Constatinople.  You disregard the darks ages that fell upon western europe as a consequence.  But if you want to believe in gemanic liberators, that's just fine with me.  Let's test our knowledge, I'm expecting an educated response from you.

Tue, 12/31/2013 - 22:55 | 4290190 SgtShaftoe
SgtShaftoe's picture

The roman citizens were enlisted and forced to act as tax collectors on their neighbors, others were forced into an effective caste system.  The outlying areas were desperate against this situation. Rome was absolutely sacked.  Those points are historical fact.  The rise and fall are portrayed superbly in the series of paintings "course of empire" by Thomas Cole: https://en.wikipedia.org/wiki/The_Course_of_Empire

The eastern empire had been virtually independent since shortly after Antony's time.  The dark ages are likely a bias of Gibbon as I believed he actually termed the phrase.  There is certainly a reversion in industrialization, and the plague (which probably has more to do with the term than anything else).  However, it's not clear that the dark ages were really very dark.  Civilization simply organized itself differently.  There were no monuments to "great" emperors, which are the artifacts that tend to last the tests of time. Comparing other civilizations concurs with this statement - Reference "Collapse of complex societies" a research of archeology. 

Society at the time was certainly complex, and it's really impossible to paint every person with the same brush of opinion.  I'll concede that history is really hard, and as much as it may appear that people felt this way or that, it's really simply an educated opinion. 

Happy new year!

Tue, 12/31/2013 - 23:42 | 4290282 Harbanger
Harbanger's picture

You make some good points.  We'll pick up this conversation later or on some other thread.  I'm busy servin drinks for the guests.  Happy New Year.

Tue, 12/31/2013 - 15:22 | 4289158 agent default
agent default's picture

The US will go to war if this possibility shows up on the radar.

Tue, 12/31/2013 - 16:32 | 4289369 robertocarlos
robertocarlos's picture

Then they are a bunch of fucking cry-babies. They lost fair and square.

Tue, 12/31/2013 - 18:54 | 4289531 Harbanger
Harbanger's picture

There are no losers, fair and square now means we all share.

Tue, 12/31/2013 - 15:39 | 4289207 BanksterSlayer
BanksterSlayer's picture

Yes, I think this was the plan all along. It's already done.

Tue, 12/31/2013 - 15:08 | 4289105 lolmao500
lolmao500's picture

When credit collapses, so will gold prices... thing is, good luck finding physical when that happens.

Tue, 12/31/2013 - 15:24 | 4289167 agent default
agent default's picture

When real interest rates become positive, yes gold will collapse.  But I don't understand what you mean by credit collapse.

Tue, 12/31/2013 - 15:44 | 4289219 HardlyZero
HardlyZero's picture

When risk is correctly included in the price the interest rates will go much higher, and then the existing credit markets will collapse.  Anybody holding 1% notes will lose their principle and there will be massive credit disruptions.

Credit markets have been driving the market expansions for 100 years, and why the FED is so strong.

Tue, 12/31/2013 - 16:20 | 4289319 robertocarlos
robertocarlos's picture

They might bring out a new dollar in exchange for old based on your insured bank deposits. Sucks to be holding USSD outside of the system. Might have to give those holding USSD AND nukes a better deal.

Tue, 12/31/2013 - 18:24 | 4289660 Harbanger
Harbanger's picture

Big Correction.  When credit collapses, every asset whose price is driven by credit collapses.

Tue, 12/31/2013 - 15:18 | 4289133 GrinandBearit
GrinandBearit's picture

Any time I have extra cash available, I buy it when it falls below $1200.

So simple.  

Tue, 12/31/2013 - 15:20 | 4289142 Kirk2NCC1701
Kirk2NCC1701's picture

I'd like to know how many Americans sold their PM, to pay bills.  Bet ya there's more than a few. 

But none of them are in the 2% of the population, where the Wealth Effect is bigger than ever.

Tue, 12/31/2013 - 15:19 | 4289148 katchum
katchum's picture

Compared to their GDP, this is not very much. These Russians should take an example from the Chinese...

Tue, 12/31/2013 - 15:20 | 4289152 billwilson
billwilson's picture

There will be a late push down to make sure gold closes below 1200 for the year. Slow and steady capping and dropping.

Tue, 12/31/2013 - 15:39 | 4289200 CheapBastard
CheapBastard's picture

I'll buy treasuries again when they yield over 14%...not until then. The risk is too great.

Wed, 01/01/2014 - 14:08 | 4290429 lewietheparrot
lewietheparrot's picture

deleted

Tue, 12/31/2013 - 15:44 | 4289209 Dr. Gonzo
Dr. Gonzo's picture

Gold is pretty. I think I like looking at it. 

Tue, 12/31/2013 - 16:58 | 4289429 Cpl Hicks
Cpl Hicks's picture

WHAT???

You, good Doctor, are an apostate. You should be buying gold- buying it high, buying it low, buying it moar, moar, moar. Never think about selling it, no, no no. Do not even think about thinking about selling it.

But just looking at it? That's just plain weird.

Tue, 12/31/2013 - 15:46 | 4289215 tony wilson
tony wilson's picture

putin is mad a lunatic to be buying at these high prices.

gordon brown of london and scotland has a nose for young boyz and a bigger nose for gold price.

 

nothing is new under the sun history is all you need.

the bbc say gold is a dangerous bubble.

browns bottom is the price are gordy sold the uk supplies of gold at a superb price at the time and way over valued in my book.

thank god

sorry thank satan for lord edywnne rothschild for helping team gb out with the purchase.

putting his hard earned cash monies into taking are scrap metal.

it just goes to show who your friends are in your hour of need browns bottom was scottish rite in this matter.

 

the raping of young boyze another matter all together.

Tue, 12/31/2013 - 18:37 | 4289703 TheLoveArtist
TheLoveArtist's picture

The Joooos are well known shysters for trying to start a stampede, they will publicly sell gold and make much media noise and hype about it while their fellow tribe members are buying like crazy.  That is why the World Jewish Congress wants the media in Joooo hands.  They can control what everyone perceives, and that is the ESSENCE of the TRADE

Tue, 12/31/2013 - 18:38 | 4289708 TheLoveArtist
TheLoveArtist's picture

The Joooos are well known shysters for trying to start a stampede, they will publicly sell gold and make much media noise and hype about it while their fellow tribe members are buying like crazy.  That is why the World Jewish Congress wants the media in Joooo hands.  They can control what everyone perceives, and that is the ESSENCE of the TRADE

Tue, 12/31/2013 - 15:55 | 4289246 Goldilocks
Goldilocks's picture

Fuck the Fear Turkey - Alucard - TheCrimsonFuckr - TFS Parody
http://www.youtube.com/watch?v=CnxibprVzB8 (1:44)

Tue, 12/31/2013 - 16:01 | 4289255 walküre
walküre's picture

Russian banks seem to be well capitalized then. Giving their European counterparts a run for the money going forward. Which Spanish, Italian, Greek, French, British and even German bank had the means and priority to buying gold over the last few years?

Impossible to predict just what the effects will be on the power and control structure of ECB, Euro and European sovereigns.

After the collapse and reset, Russia and China can buy the other half of Europe with a gold backed Rubel/Yuan reserve currency.

Tue, 12/31/2013 - 16:03 | 4289261 NIHILIST CIPHER
NIHILIST CIPHER's picture

When gold is short at the Crimex, the fear mongering starts. Spineless jellyfish throw tard fits and pull out their hair and declare the end of PM's. Grow up and keep stacking. Gold is REAL MONEY.

Tue, 12/31/2013 - 16:11 | 4289278 robertocarlos
robertocarlos's picture

My goal was to get totally out of debt. Done. I have no idea what to do now. Maybe buy some new underwear.

Tue, 12/31/2013 - 16:30 | 4289359 DoChenRollingBearing
DoChenRollingBearing's picture

Getting out of debt is a wonderful thing.  Bravo!

Keep saving and keep stacking.

Tue, 12/31/2013 - 16:22 | 4289318 ncdirtdigger
ncdirtdigger's picture

Tis better to sit in a chair too long, than to be left standing when none are left available.

Tue, 12/31/2013 - 16:25 | 4289329 robertocarlos
robertocarlos's picture

You really only need an ounce or 2 as insurance.

Tue, 12/31/2013 - 16:54 | 4289417 ArrestBobRubin
ArrestBobRubin's picture

DA muthafucka.

 

Tue, 12/31/2013 - 18:57 | 4289743 shutdown
shutdown's picture

How much physical gold did the USA government buy?

Probably a bit less than I did. 

Tue, 12/31/2013 - 20:52 | 4289972 Martel
Martel's picture

The World gold production has been growing since WWII, and was around 3,000 tonnes in 2013. China bought 2,000+ tonnes, Russia 181 tonnes. The rest explains why gold collapsed. Western Central Banks shorting/manipulating gold is not an explanation, because they can't add to their shorts forever. Lots of production, not enough gold bugs.

I've got physical gold, and bought gold miners ETF a few days ago. However, if the Chinese don't buy 2000+ tonnes in 2014, the market will fall another 30%.

Tue, 12/31/2013 - 22:57 | 4290199 Kina
Kina's picture

The gold trolls ignore a fundamental reality. The Only reason gold is below 1,900/oz is the determined corrupt efforts of TPTB.

 

A 'market' price based on the selling of massive amounts of fake non existing gold holdings hardly represents the value of the gold. IF they had to actually go and get the amount of gold they have sold...then you would have a genuine market value of gold.

 

SO how much would the price of gold be based on genuine supply and demand....ie all that gold sold had to be supplied.

Tue, 12/31/2013 - 23:07 | 4290212 Kina
Kina's picture

And how much are those Indians and SE Asians buying as well...Indians are trying every trick they can think of to get their hands on ever increasing volumes of gold.

 

So the value of an asset bares no relationship to the value/dilution of the currency.

 

Thus if the US printed 20 trillion in 2014 the price of gold will still fall 30% The US will print in excess of another trillion in 2014 ... not to mention China and Europe...and increase total debt even  higher into the trillion dollar stratasphere.

Wed, 01/01/2014 - 19:21 | 4291679 DeliciousSteak
DeliciousSteak's picture

Losers of the coming scripted war need hard assets to pay the reparations.

Do NOT follow this link or you will be banned from the site!