1) There is buying interesting for gold in Wall St.
2) You can see that via the rise in GLD bullion inventories.
3) Wall St still rules the financial world.
Anyone who denies any of those three facts, or fails to see that GLD inventories are a direct tell on the popularity of holding (or otherwise) gold among the real big money players, is either a snooty goldbug purist who still refuses to face reality about the importance of “paper gold” GLD and warns of apocalyptic things if the world collapses and you try to claim your bullion from the nice people at GLD, or a fucking idiot. Or both. And yeah, I used a swear word today. I’ve been keeping them away from the blog for a while but sometimes there’s no choice.
Bottom line: Gold’s going up not because of more buyers then sellers in the one ounce coin end of the market, or China, or India. it’s going up because of more buyers than sellers in the multiple bullion bars end of the market, the people who predict the US Dollar. That’s most likely because they don’t believe Janet and her 2016 rate rise thing. And that’s the real change here, that big money has decided to fight the Fed.