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Douglas Pollitt: Just 30 tonnes of gold can be troublesome these days
1:55p ET Sunday, February 21, 2016
Dear Friend of GATA and Gold:
In his firm's market letter for February, Douglas Pollitt of Pollitt & Co. in Toronto notes what seem to be much tighter conditions in the market for physical gold and remarks that an order for even 30 tonnes of metal can seem troublesome these days.
"Should the sector return to favor, should even a small fraction of that negative-yielding sovereign debt spill into the one remaining financial asset that cannot be adulterated, the more interesting question is this: Next time, where will they find the metal?"
Pollitt's letter is headlined "Thirty Tonnes of Gold" and he has kindly given GATA permission to post it in PDF format here:
http://www.gata.org/files/Pollitt&CoLetter-February2016.pdf
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATa.org
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