I tend to agree on the upside outlook. I do expect a lot of pressure by the big boys to keep a lid on PM prices but I doubt they will be able to hold much longer. ABN AMRO has halted gold deliveries - the obvious conclusion is they can't deliver because they don't have it. Like Kyle Bass alluded to when he questioned the futures guys. What happens if everyone wants actual delivery. Oh that'll never happen Mr Bass. We only ever get delivery requests for less than 2%.
Evey bank that actually has gold stocks on its books but has it stored somewhere else is scratching there head thinking do we recall our stocks and take physical possession?
[b]Texas Rep. Giovanni Capriglione has a bill in play that would move the state’s gold from New York (where its under the “safekeeping” of the ultra shady Federal Reserve) to a depository within the state of Texas itself. [/b]
My gut feeling is that when this thing lets go it'll happen so fast it'll make your head spin.
AYN Price at posting:
0.9¢ Sentiment: ST Buy Disclosure: Held
