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Submitted by cpowell on 10:33AM ET Tuesday, September 20, 2011. Section: Daily Dispatches
1:32a HKT Wednesday, September 21, 2011
Dear Friend of GATA and Gold (and Silver):
The London trader source for King World News reports tonight that Western suppression of the gold futures price is building big premiums on Asian gold and setting up bigger moves of gold from West to East. The trader says: "There are massive orders for tonnage of gold, incredible amounts between $1,715 and $1,760. This has the effect of putting a physical floor under the price of gold. If they make a push to the $1,715 level, that would be suicide in my opinion There are simply too many massive orders for physical gold down to that level for that to be breached." The London trader's comments are headlined "Massive Physical Floor in the Gold Market" and you can find them at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/20_Lo...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
1:32a HKT Wednesday, September 21, 2011
Dear Friend of GATA and Gold (and Silver):
The London trader source for King World News reports tonight that Western suppression of the gold futures price is building big premiums on Asian gold and setting up bigger moves of gold from West to East. The trader says: "There are massive orders for tonnage of gold, incredible amounts between $1,715 and $1,760. This has the effect of putting a physical floor under the price of gold. If they make a push to the $1,715 level, that would be suicide in my opinion There are simply too many massive orders for physical gold down to that level for that to be breached." The London trader's comments are headlined "Massive Physical Floor in the Gold Market" and you can find them at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/20_Lo...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
