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ETF sold gold piling up as Chinese imports drop 60%

Posted on 25 June 2014

The movement of gold and silver from West to East has transformed the global gold market in fundamental ways. The process playing itself out goes roughly like this:
ETF investors in the US and other developed markets offload their gold holdings allocated to them and held in the UK, where most of the world’s gold vaults are to be found. From the UK the bullion is exported to Switzerland where the globe’s gold refineries are concentrated, where it’s melted down and recast into smaller bars………………………………………..Full Article: Source


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VRS - who has written 40108 posts on Opalesque Commodities Briefing.


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