The 'Claims Per Ounce' of deliverable gold climbed to a new all time high of 61 yesterday.
This was covered in intraday commentary here.
There was very little movement in the Comex warehouse with just a few bars leaving storage.
There was a bear raid today, supposedly based on 'taper talk.' Well, tapering might not be all that bad, for all the good which it is doing.
QE and fiscal policy is primarily targeted to line the pockets of the wealthiest few by inflating certain classes of asset prices, and sustain an unsustainable and unreformed financial system dominated by crony capitalism.
This may not end well, but it will end.
Have a pleasant evening.
