This brief "analysis" demands your full consideration.
Please make a summary of all the "unusual" things that are happening. Here's just a short list:
- Gold flowing out of London to Switzerland and Hong Kong
- Combined Chinese and Indian demand in Q2 2013 at 586 metric tonnes
- U.S. interest rates are skyrocketing as foreigners dump U.S. treasuries
- Steeply falling Comex inventories
- GLD "inventory" down 435 metric tonnes or 32% YTD
- JPM stopping to themselves 3/4 of all August gold deliveries
- JPM flipping from 50,000 net short Comex futures to 75,000 net long
- GOFO negative for 33 consecutive days and the 6-month now negative at a new, unprecedented low
- As I type, a slight Comex futures backwardation vs cash out through and including the Feb14 contract
That's nine, separate bullets that took me about two minutes to type. Please use the comments section of this thread to add your own observations to any I may have missed.
Now, please consider the possibility that you, my dear reader, will look back upon this six months from now and think: "How could I be so stupid? All of the signs were there! Why wasn't I buying up all the physical gold I could get my hands on?"