Some have been speculating that precious metal demand has been using GLD and SLV to get metal.
The contact out of London has updated King World News on the massive Asian buyers which have been accumulating both gold and silver. “The Asians, particularly the Chinese, want physical gold and they want it tomorrow. So the Chinese have a new method. They are now planning to buy tremendous amounts of the ETF GLD. They will then tender the GLD shares for immediate delivery of the gold. This bypasses all of the rules of places such as the Comex limiting delivery. There is no limit as to how much you can buy from the ETF GLD.
Why did it take them so long?!? I really tend to doubt various “official” numbers, etc. But if this half true, things really might get exciting in a few weeks.