ML-Implode News - The Massive Drawdown of Gold From the West Continues

Since the beginning of the year, the major exchanges and ETFs for silver have added about 1,494 tonnes of bullion.Â But what is absolutely remarkable is thatÂ since the beginning of the year the Comex and some of the major ETFs have LOST about 856 tonnes of gold bullion.Â And I suspect much of that bullion has gone to the non-reporting vaults in Asia and the Mideast. And there is import/export data that corroborates that hypothesis.
Now, some might say that they don't see what this means, that they don't see the significance. Or that the significance is that people like silver but don't like gold, even though both have seen price declines, and even though demand for physical gold in Asia and the Mideast has been explosive this year according to trade records.

I will tell you what the significance is.Â The significance is that you are, figuratively speaking,Â watching water running uphill and out of sight.Â And some look at this and say, nothing to see here.

That gold which is disappearing from the reporting grid will not be coming back to these largely western vaults anytime soon.Â Â AndÂ it certainly willÂ notÂ be coming back at these prices.Â It is going into some fairly strong hands with an eye to the long term.

Relevant:

The Massive Drawdown of Gold From the West Continues - Silver Comparison