This adds to near term gold supply and has been putting pressure on the gold price . The CRB, which closed today right above 195, is at 26 year lows. The bullish consensus for the oil complex is a robust 4. Talk about depression. Then again you could be in the copper business in Arizona, which is going Grand Canyon silent.
Times are hard in the commodity world.
Easy, it is being artificially depressed first of all and two, its monetary role is about to make a big comeback. Not so for copper, hogs, oil, etc, Genie in the bottle feedback. The Asian gold premiums remain firm and intact in Singapore, Hong Kong and in Tokyo. Buffet and silver. Every time silver swoons, Buffet selling comes up.