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Brien Lundin: 'Dislocated' gold may be at center of recent price volatility

Section: Daily Dispatches

2:51p ET Monday, April 15, 2024

Dear Friend of GATA and Gold:

Writing today about Friday's sharp rise and sharp fall in the gold price, Gold Newsletter editor Brien Lundin writes that something major seems to be happening with gold besides central bank buying. Lundin suspects that it may involve "dislocated" gold -- "gold that should be in national reserves but isn't."

Lundin writes: "What we're seeing right now may be related to Frank Veneroso's seminal work in 'The Gold Book,' which we published in the late 1990s, detailing how gold had been leant out of central bank reserves and to bullion banks, which then quickly sold that gold into the market and invested the proceeds into leveraged investments. This was the factor behind the ever-descending gold price in the 1990s -- and that chicken may be coming back to roost today, with central banks demanding that the IOUs in their gold reserves are finally replaced by gold bullion."

Lundin's commentary is headlined "Wild Ride" and is posted at the Golden Opportunities section of Gold Newsletter's internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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