Physical Gold Moving from West to East and West Sells Paper and East Buys Physical

In this quick video on CNBC the announcer makes the point that the price of gold is dropping as those in the west sell paper gold. In the east, however, the announcer notes that physical gold is being bought en masse mentioning the long lines to buy physical gold to hold for the long term and that such purchases amount to a wealth transfer.

We noted last month that physical buying of gold and silver is increasing while the sales of paper gold and silver are pushing their prices down. https://smaulgld.com/the-west-sells-paper-gold-while-the-east-buys-physi...