One such news is a report from SRSrocco which showed record amount of gold being exported from Switzerland to the US (See chart below)
Have the investors community in the US finally begun their move into gold? Currently, only 1% of the public invest in gold. Now imagine what will happen when that 1% grows to 2%. The chart above could indicate a change of investors' preference for the yellow metal. It will be interesting to watch if the chart is a one time off event or the beginning of a longer trend.
Hot in the news is the Tokyo Commodity Exchange's (TOCOM) pivot into physical settlement, much like the Shanghai Gold Exchange.Recently it was reported that Tanaka Holdings, one of Japan's primary gold dealers has acquired shares of Metalor, a Swiss precious metals refiner. The purchase of Metalor will result in Tanaka gaining access into the in the precious metals recovery and refining business in Europe, North America and Asia.
The Tanaka's purchase and TOCOM's decision could shift the pricing power from the West to the East, which will also dent the power of the COMEX to influence pricing.
Lastly, here's another chart from Marketwatch, which shows that gold discoveries and production are expected to fall off the cliff in the coming years. This could cause a huge re-pricing of gold on the upside.
No comments:
Post a Comment