“Gold Prices Fall Just In Time For Diwali”
Holding physical gold and silver remains the primary hedge in preserving the purchasing power and liquidity of one’s wealth and assets in the difficult times ahead. The hedge needs to be held into and through the crisis, in order to provide its full benefit. – John Williams, Shadowstats.com
I can’t figure out if the Fed/Wall Street bullion banks understand that every time they smash the price of gold with fraudulent paper gold contracts, it creates massive physical delivery demands in India and Asia. But based on the market data in India/Asia, it would appear that the latest price take-down of gold has aroused the a sleeping gold giant in India.
The western banker gold cartel has made about a billion Indian really happy. The paper gold price-management mechanism used to knock down the price of gold these past few weeks has stimulated a ground-swell of demand for imported kilo bars into India.
For the first time in several months, the ex-duty price of gold in India has been high enough to trigger heavy importing of kilo bars into India this past. This is in addition to the heavy flow of dore bars and smuggled gold – the amount of which is completely ignored by the World Gold Council’s accounting of India’s imports.
The same is true for Asia: “Individuals as well as business were picking up physical gold, as they see this pullback as an opportunity,” said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central – LINK.