Gold and silver took their usual price hits this morning in NY, afternoon in London. Gold managed to climb all the way back to a slight gain while silver remained slightly lower.
It is all about the Federal Reserve and China this week.
The Fed is considering finally getting off the ‘zero bound’ of interest rates, largely to reload their policy options for the next financial paper asset panic.
China has a real economy that is definitely slowing, and reaping the results of some bad policy decisions of their own.
I hope there is no doubt in your mind that the physical gold market is tight globally, with bullion available for immediate delivery commanding a premium.
We keep hearing different plans being proposed by the Anglo-Americanized government of India to monetize the gold held in their temples, and now, a program to stimulate domestic gold mining.
China, Russia and the Mideast are not relenting in their strong demand for physical gold at these prices, and the Indian officials are doing what they can to please the Western financiers who are struggling to sustain their gold pool.
This post was published at Jesses Crossroads Cafe on 14 SEPTEMBER 2015.
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