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Shortages developing in large gold and silver bars too, Turk says
12:35p ET Tuesday, May 7, 2013
Dear Friend of GATA and Gold:
Shortages are developing not just in small gold and silver denominations but in the large bars that are the bulk of the monetary metals trade, 400-ounce gold bars and thousand-ounce silver bars, GoldMoney founder and GATA consultant James Turk tells King World News today.
Turk says: "If the central planners want to keep the precious metals at these low prices, to meet the demand for physical metal they will need to empty more metal from central bank vaults, or borrow metal from the exchange-traded funds as some have suggested is happening. Otherwise, the central planners will have to step back and stop their intervention, thereby letting the price of gold and silver rise so that demand tapers off, bringing demand and supply of physical metal back toward some kind of balance.
"We've seen this same situation several times over the last twelve years. It is what I have been calling a 'managed retreat.' Despite the current weakness, I firmly believe we have again entered a critical period where the central planners will need to retreat once again in order to let gold and silver prices climb higher."
An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/7_Jam...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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