Gold Demand Surges As Price Suffers Worst Month Since November

Tyler Durden's picture

Amid a resurgent dollar, gold prices have tumbled in September (worst month since Nov 2016). However, as geopolitical tensions soar, with the standoff between the U.S. and North Korea probably topping the list, demand for precious metals surged with Gold ETF holdings rising most since Feb 2017.

Bullion has sunk 2.8 percent in September while holdings in gold-backed ETFs expanded 2.4 percent as of Thursday.

Plenty of investors are still seeking havens, says Barnabas Gan, an economist at Oversea-Chinese Banking Corp. in Singapore.

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Montana Cowboy's picture

Agreed. Gold is an asset. It is well-suited as a vehicle to store wealth. But that is a far cry from being money. We are way past the point with fiat debt for gold to ever serve as money. If someone takes gold in commerce, they almost always need to sell it immediately to pay their debt services and operating costs - none of which can be paid in gold.

K_BX's picture

I think that the great value of gold is that there is no counterparty risk & there are simply too many promises out there that will not be kept. When defaults hit you want to be the neither the debtor nor the creditor

SunRise's picture

Gold has MANY uses - at the right price.  Evidently, the current price satisfies Demand, whether fiat or physical.

Give Me Some Truth's picture

The lesson here is simple: Buy gold at your own peril. Deep State/Establishment/market Riggers: "We are going to make sure you lose money."

Everyone who buys gold or silver is a threat to the Status Quo - puts the printing press in peril - and will be punished accordingly. They ain't being subtle here. They mean business and they have no scruples whatsoever. And they don't mind being brazen in their activities. They don't care if everyone on ZH knows they are crooked. They know nothing is going to happen to them.

Albertarocks's picture

"Vietnam Shows How To Clean Up The Banking System: Ex-Banker Sentenced To Death For Fraud"


Dre4dwolf's picture

Gold Bitcoin Silver (any other random coin that might skyrocket for no apparent reason), Bread and Butter

Seeds, lots of seeds, and land lots of land.

Everything else is worthless wtf is a stock in google going to do for you? ...nothing unless you have 100,000,000$ worth.

TVP's picture

No, not any other random coin, only the ones that have useful and promising tech behind them.

Litecoin, Vertcoin, Monero, Zcash, NEM....there are a few others but not many.  Most everything else is either a pipe dream or a pump & dump.  

Gold Banit's picture

Gold is the money of Kings. Silver is the money of Gentleman. Barter is the money of Peasants. Debt is the money of Slaves.


Give Me Some Truth's picture

Today, gold and silver are simply the No. 1 threats to the Establishment and the One percent. They have tried to flip thousands of years of history. Amazingly they seem to be succeeding. Scary.

Hikikomori's picture

Only on ZH is a 3% increase described as "soaring".

SeuMadruga's picture

It's probably enough to sore the leveraged paper shorts...  ;-)

afronaut's picture

Look at an historical chart. It looks expensive.

its holding up well as far as purchasing power in US $

GoldenDonuts's picture

Price is going down because ETFs don't buy any gold.  They just promise to buy gold or gold equivalents.

Hikikomori's picture

Only on ZH do people equate a 3% increase with a "surge".

Consuelo's picture



Kept in a tight, almost hypnotic range, is just how the Overlords want it.   Absolutely vital that public interest outside of paper trading is kept to a minimum.



BendGuyhere's picture

Exchanging inherently worthless doll hairs, euros, francs or bitcoin for OUNCES OF GOLD is the trade of the millenium.


silverer's picture

Stupid fucking morons that buy gold ETF just don't get it. Want gold to go up? I mean really up? I mean altitude sickness up? Sell your stupid paper ETF's and buy and hold physical gold. Watch as COMEX vomits out its larynx trying to make it all work to keep the price down using paper.

Montana Cowboy's picture

Unfortunately, the math won't support this theory. If every ETF buyer bought physical, the effect on the physical supply glut wouldn't even be noticeable. Paper gold is not the problem. The problem is a physical glut. Sorry. I know it doesn't fit the fantasy of stackers. Does it make sense that gold, or any commodity, could really be down-rigged to fire-sale prices for decades without depleting? And if you can't deplete gold at fire-sale pricing, how can you ever expect it to go up?

The coin and mining industry has provided a series of false and unsupported excuses to conceal the fact that gold is in a supply glut. There is the 'ETF' theory. The 'shortage is coming' theory. The 'cartel' theory (which they cleverly prove by showing cases of individual rogue traders moving markets just to exit their positions). Then there is 'blaming the shorts' when every short must go long to exit their position. Yes, every commodity trader must go both long and short. He only decides which card he plays first to open and second to close. There is a glut. Get over it.

runswithscissors's picture

Yeah there's such a glut in gold they are minting $1 presidential coins with it. I  actually met a dumbfuck who was hoarding presidential dollar coins because he thought they contained real gold...dream on

Montana Cowboy's picture

So let me understand your logic here, because I know you are a brilliant thinker.

"There can't be a glut because $1 presidential coins have no gold content."

All those hours in math in logic courses. I must have wasted my time.

Did it ever occur to you that the mining industry is substantially in bankruptcy. And the three largest metals dealers in the world are all in bankruptcy too. (NorthWest Territorial, Tulving, and Bullion Direct).

Bay of Pigs's picture

You are a liar. Not all that smart either.

Montana Cowboy's picture

People that are smart make a counter-argument. Where's yours?

Ignorance is bliss's picture

ETFs are full of paper. They tell you that in the small print. Tell me how the London Gold pool worked out. Tell me why Gold went from $42 to $1300 in the last 40 years. Why do central banks use Gold as a reserve asset if there is so much of it? Why did Canada sell all their gold? Your logic is non-existent. Hedge funds and mutual funds aren't allowed to own real gold.

Montana Cowboy's picture

Lets check your logic:

Gold went from $42 to $1300 in 40 years. That means there is not a present glut.

The fact that central bankers use gold as a reserve asset means there is no glut.

There can't possibly be a glut because Canada sold all their gold.

Hedge funds are not allowed to own physical gold. That proves there is no glut.

Sorry, you get a F in logic and an A+ in religion - whether there is a glut or not.


BendGuyhere's picture

Keep stackin' bitchez!

And don't forget those rolls of beautiful 1 oz silver Morgans, from another age....

FreeShitter's picture

Pre 33 5 dollar liberty gold

Morgan dollars MS

assistedliving's picture
Gold Demand Surges As Price Suffers Worst Month Since November

like a tadpole in front of a small mouth Bass.  aint biting and i aint stacking either dammit

Sauron's picture

Nobody worry.  It is a fact that gold-backed money is coming.

Why? If gold is the best store of wealth,  you only wait for TPTB to accumulate the assets out of populace and,  then,  they will implement gold-backed money to keep their wealth forever

tropicthunder's picture

Notice how they sucker in all of the GLD dumb money just as the gold price starts to implode. October/November = Major Bearish Seasonality. Already had a great week on the GC short side and next week should be fucking gangbusters week for the bears again especially with CHINA GOLDEN WEEK. A great time to be SHORT GOLD.

assistedliving's picture

nothing personal thunder but i so hope you're short gets crushed

only wish it was me squeezing the shit out of you

tropicthunder's picture

Its never personal, that's what makes a market. Fortunately when you have DaBoyz on your side to beat the living shit out of gold, its just to fucking easy ;)

DoolieDoink's picture

"Plenty of investors are still seeking havens, says Barnabas Gan, an economist at Oversea-Chinese Banking Corp. in Singapore."

And yet this article is not to be found by a google search anywhere, only a ZH creation !

EnragedUSMCExpat's picture

Google is surreptitiously altering the robots.txt in the root of websites they "disapprove" of to deny search engine ranking. ZH is a victim, not a perp.

Maestro Maestro's picture

Worse than the bankers rigging gold and silver prices and not having the gold that they sold you (or selling gold that they don't have via fraudulent LBMA unallocated paper spot contracts or COMEX Futures contracts) is the fact that we don't even have MONEY today.  Therefore all financial transactions and economic numbers predicated on the existence of money are FRAUD and FORGERIES presently.

Electronic digits and paper fiat currencies in use today are NOT money, according to the law of the country that issues the reserve currency of the world, the US Dollar (Article 1, Section 10 of the US Constitution); or by the tenets of the science of Economics (i.e., fiat currencies are not money because they are not a store of value nor a unit of account due to the fact that NOT ONE fiat currency's value is actually determined or stipulated in concrete legal terms).  Dollars and Euros and Yens are not even lawfully DEFINED as to what they all are exactly; what their economic worth and transactional value is. Hence, fiat currencies simply cannot constitute the legal foundation of any lawful contract!

(Also, there cannot be either inflation nor deflation in the ABSENCE of money.  Both inflation and deflation are monetary events which cannot take place where there literally is no money.)

What we have today is massive GLOBAL FRAUD mascarading as a monetary system based on the (fraudulent) US dollar because all fiat currencies are basically only a derivative of the US dollar, including the Euro, the Yen, the Yuan, the Rouble, the Shekel and the Riyal.


Why do a few people get the right to print fake fiat money out of nothing and buy your goods and  services with it whereas you have to WORK to obtain the same worthless money created out of nothing?

THAT is the question at the heart of the matter.  That the bankers manipulate interest rates or the price of gold via fraudulent Futures trading (by selling gold that they don't have) with fiat money is a moot point.

To put it differently: why do the bankers get to have anything that they want without working for it and you, you don't?

All this talk about market rigging, monetary theory and fraudulent (paper) gold trading is a cover-up for INJUSTICE.

The US Constitution FORBIDS the use of debt as money; the US Constitution proscribes (debt) notes which is what the US dollar is presently.  Think, all other currencies are just another name for the US Dollar.

What passes for money today is a CRIME, no more no less.


You are all aiding and abetting this crime every time you buy, sell, pay or get paid.

And then you ask, Why our leaders, the politicians, the bankers, and our military men and women are EVIL?

The answer is, because they are just like YOU. They are your sons and daughters.

SybilDefense's picture

My pont exactly.  That's why nobody should pay "them" more than %5 come April 15.  If we speak with that voice they will listen.  Until we do its just one more wasted vote.

Hit the %1 where their wallet is.  A unanimous citizen based government defunding would change our country immediately.

Unless you fix A) B) C) etc, u gets no mo of our hard earned income.  Period.

Maestro Maestro's picture

Yes. Thanks for sharing your thoughts.

SybilDefense's picture

My pont exactly.  That's why nobody should pay "them" more than %5 come April 15.  If we speak with that voice they will listen.  Until we do its just one more wasted vote.

Hit the %1 where their wallet is.  A unanimous citizen based government defunding would change our country immediately.

Unless you fix A) B) C) etc, u gets no mo of our hard earned income.  Period.

EnragedUSMCExpat's picture

Gold in the hand. Once again it is not about investment, but SURVIVAL.

Ke Kai O Ka Hiki's picture

I wonder what CHINA's GOLD PURCHASES will look like this month as well as RUSSIA's???? Guess we'll wait the next 2 months to find out