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Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets

 
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Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets

On the heels of the $50 takedown in the gold market, today the man who has become legendary for his predictions on QE and historic moves in currencies and metals told King World News that there are major physical shortages in the LBMA and futures markets.

Brief Dip Before Major Upside Wave In Gold
February 4 (King World News) – Egon von Greyerz out of Switzerland: “Eric, I’ve been expecting a final move down in what has been a lengthy correction into the $1,700s. The bottom could be $1,750 or even slightly lower. But, Eric, my anticipation has been purely based on the technical picture in the short-term and the technical picture is very clear, this is the final move down before another major upswing in gold and a very long lasting and strong wave. So whether this takes a week or even less, I don’t know, but this is the final move down, and this does not worry me in the slightest because it clears out the technical stuff so that the next move is going to be a major one to the upside…

Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.

Sponsored

They Are Getting More Desperate
And, Eric, what is important is that there are major shortages in the LBMA and futures market. The reason for this is the BIS — through the bullion banks — is creating gold through the swaps that they are allocating to the bullion banks in order to cover their positions. So they are creating paper gold and this is why we are seeing massive turnover in the paper market on a daily basis, which is several times daily or annual global mine production. That manipulation is still going on but I think they are getting more desperate. This is happening because we are near the end of this paper market scam.



Killing The Market And Sending Gold & Silver To All-Time Highs
As I wrote last week, too much paper is poisonous, and this is a poisonous market that eventually will kill that market and clean up all of those paper shorts. It might take a little time but I have patience, I have patience. All that is required now for investors around the world is to be patient and the market will reverse in a huge way, smashing through the previous highs in both gold and silver.

Now Is The Time To Buy Gold & Silver
Eric, I would like to add that this is a major buying opportunity. Instead of investors being scared, they should buy here when it corrects because this is a perfect moment to buy gold rather than waiting until it goes up like a lot of investors did at the end of last week. Now is the right time to buy.”
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02/04/2021 03:54 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
5a

sealsealsealwhip
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02/04/2021 04:13 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
AND...!?!?
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02/04/2021 04:17 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
it.s just add.
and watch

this ,xxx.watch!
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02/04/2021 04:31 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
5a

sealsealsealwhip
 Quoting: Anonymous Coward 79580316


HEY,you say and understand.


GO, we have understood this system and Grace for all who may have understood a little what comes in the financial systems of some kind
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02/04/2021 04:36 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
[link to kingworldnews.com (secure)]

ey-have-100-million-ounces-of-physical-silver/

Truly Mind-Boggling Chart, Sprott Says They Have 100+ Million Ounces Of Physical Silver, Plus Unleashing Reserves

Below is a truly mind-boggling chart, plus Sprott says they now have 100+ million ounces of physical silver and unleashing the reserves.

PSLV Over 100 Million Ounces Of Physical Silver!
February 4 (King World News) – Sprott: PSLV 1,200,000 ounces of physical silver added to the Sprott Physical Silver Trust today! A new milestone at 100,806,762 total ounces of physical silver held by PSLV!…

Get Ready
Danielle DiMartino Booth at Quill Intelligence: Buckle up, buttercup. Here come the reserves! (See chart below).

BUCKLE UP: Unleashing Dollar Reserves



Gold & Silver Discoveries = Massive Windfall For Shareholders
Otavio Costa: This chart is mind boggling. Investments in mining exploration are at a 62-yr low! Commodities are your highway from the old to the new economy. Major supply/demand imbalances ahead. (See chart below).

MIND-BOGGLING:
Investments In Mining Exploration At 62-Year Low!



Did You Miss Kirkland Lake Gold’s 50-Fold Share Price Increase?

Kirkland Lake Gold Skyrocketed From $1 To Over $50!



Two Billionaires Bought Huge Stakes In The Next Kirkland Lake Gold!
To find out which company two billionaires bought huge stakes in what they believe will be the next Kirkland Lake Gold click here.

Also released! Sprott Asset Management: Silver Headed To $35, Above That Expect Price Spikes To $47-$119 CLICK HERE TO READ.

Also released! JP Morgan And Silver, The Great Rotation Into Gold & Silver, And Look At These Remarkable Charts CLICK HERE TO READ.

Also released! After Today’s Pullback It Is Important To Look At The Big Picture For Gold & Silver CLICK HERE TO READ.

Also released! WHAT TIMING: Curiously JP Morgan Downgrades Silver Stocks, But This Is Even More Stunning CLICK HERE TO READ.

BULLISH ON SILVER: To listen to Rob Arnott, the man who helps oversee $160 billion, discuss why the silver market could be the next to skyrocket and much more CLICK HERE OR ON THE IMAGE BELOW.

[link to kingworldnews.com (secure)]
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Zoloti Varota
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02/04/2021 04:40 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
It may very well go to 0 as people find that there is no gold backing these paper certificates but physical gold can not be printed by the ton...
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have-100-million-ounces-of-physical-silver/

Truly Mind-Boggling Chart, Sprott Says They Have 100+ Million Ounces Of Physical Silver, Plus Unleashing
This Is How We Will Know Gold Has Bottomed
February 04, 2021
This Is How We Will Know Gold Has Bottomed
With many people watching the tumble in the gold market, this is how we will know the price of gold has bottomed.

This Is How Gold Will Bottom
February 4 (King World News) – Fred Hickey: “US dollar rally” is the explanation pundits use to explain gold sell-off. Reality: gold soared to record highs in early August and we’re now in an extended correction. Dollar FELL throughout this 5-mo. gold correction. Gold correction from the record highs has to run its course.

What I’m Looking For
Gold correction will end once enough of the week-kneed (who are still hanging on) finally punt on gold. We’re getting closer. Reality is this is just a correction in a major bull with conditions ripe for much higher levels: deeply negative real rates, a bout of inflation ahead.

Despair and fears of deeper losses. It’s what I’m looking for – we need more of it for a bottom…

To hear Sean Boyd discuss $3,000 gold and the big game-changer
for the gold market CLICK HERE OR ON THE IMAGE BELOW.



Gold Bull Catalysts
That bout of inflation will be driven by year-over-year comps (starting in weeks), soaring commodity prices (look at oil, food, industrial metals), massive (record M2) money supply growth, Biden stimulus and economic reopening as COVID cases fall. Will lead to even deeper negative real rates.

Meanwhile, Fed will sit on its hands and NOT raise rates/taper their massive money printing due to fear of popping enormous (record-sized) asset bubble’s they’ve created. Record twin deficits (budget & trade) and deeply negative real rates – perfect conditions for gold bull to resume.

Fitzpatrick weighs in…

Gold Testing a Pivotal Support Range
Top Citi analyst Tom Fitzpatrick: After gold recently completed a small double top formation that targets a move to $1788, it has drifted lower to test the pivotal support range at $1791-$1811, which includes:

$1791: 55 week MA

$1796: October 2012 high

$1803: November 2011 high

$1811: 76.4% Fibonacci level of the fall from $1959 to $1765

If we see a daily close below this range, we should expect a further decline towards the next good support range at $1765 (May 2020 high and Nov 2020 low.)

Gold Testing a Pivotal Support Range



Note that a weekly close below this range would paint a much more bearish picture on the precious metal given the 55-200 week MA set up. However, for now, we should focus on how it trades around the big support range and come back to reexamine if we get that weekly close.

Also of importance…



Maple Gold Mines Ltd. has closed its previously announced 50-50 joint venture transaction with Agnico Eagle Mines Ltd., which combines Maple Gold’s Douay project and Agnico’s Joutel project into a consolidated land package of approximately 400 square kilometres. The closing of the transaction follows the signing of a binding term sheet between Maple Gold and Agnico that was previously announced on Oct. 8, 2020.

“The closing of this transaction represents an exciting new chapter for Maple Gold as we move forward on the Douay project with the best joint venture partner we could ask for.

We are excited to kick off the JV’s maiden drill campaign shortly to expand the established gold resources at Douay and will continue to test regional targets for new discoveries, all with the aim of establishing an exciting new gold district in Quebec’s Abitibi gold belt.

We also look forward to building on our relationships with the local communities around the combined land package, including the first nations.” — Matthew Hornor, CEO of Maple Gold

JV highlights:

Maple Gold contributed its 357 square km Douay gold project, which has an established National Instrument 43-101 mineral resource estimate of 8.6 million tonnes grading 1.52 grams per tonne Au for 422,000 contained ounces of gold in the indicated category and 71.2 million tonnes grading 1.03 g/t Au for 2.35 million contained ounces of gold in the inferred category using a cut-off grade of 0.45 g/t Au for open-pit mineral resources and a cut-off grade of one g/t Au for underground mineral resources (1).
Agnico contributed its 39 square km Joutel project, which hosted Agnico’s past-producing Telbel mine (reclamation area and associated liabilities are excluded from the JV).
Agnico will provide an aggregate of $18-million of financing over four years for exploration expenditures at the Douay and Joutel properties, which will be allocated based on management committee budgets. Agnico and Maple Gold will contribute proportionately for expenditures thereafter.
Agnico and Maple will jointly finance an additional $500,000 in exploration of volcanogenic massive sulphide targets located on the western portion of the Douay project.
Agnico to contribute its technical expertise to the JV through joint operatorship (Fred Speidel, Maple Gold’s vice-president of exploration, will act as the initial general manager of the JV).
Agnico will support Maple Gold in its pursuit of third party project financing for the development phase.
Maple Gold and Agnico have each retained a 2-per-cent net smelter return royalty on the property that they contributed to the JV, each with aggregate buyback provisions of $40-million.
Below is a short video update



Also released! Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets CLICK HERE TO READ.

Also released! Truly Mind-Boggling Chart, Sprott Says They Have 100+ Million Ounces Of Physical Silver, Plus Unleashing Reserves CLICK HERE TO READ.

Also released! Sprott Asset Management: Silver Headed To $35, Above That Expect Price Spikes To $47-$119 CLICK HERE TO READ.

Also released! JP Morgan And Silver, The Great Rotation Into Gold & Silver, And Look At These Remarkable Charts CLICK HERE TO READ.

Also released! After Today’s Pullback It Is Important To Look At The Big Picture For Gold & Silver CLICK HERE TO READ.

Also released! WHAT TIMING: Curiously JP Morgan Downgrades Silver Stocks, But This Is Even More Stunning CLICK HERE TO READ.

BULLISH ON SILVER: To listen to Rob Arnott, the man who helps oversee $160 billion, discuss why the silver market could be the next to skyrocket and much more CLICK HERE OR ON THE IMAGE BELOW.



To listen to Alasdair Macleod discuss the fact that there is virtually no liquidity in the London silver market which may lead to a massive short squeeze in silver as well as the Reddit and Robinhood army of traders entering the silver market CLICK HERE OR ON THE IMAGE BELOW.



Also released! Reddit WallStreetBets Group Unleashing Silver Price, But This Will Trigger Real Panic Into Gold & Silver CLICK HERE TO READ.

Also released! SILVER: WHAT A DAY! Look At Who Just Predicted We Will See $2,500-$4,000 GOLD And $57-$131 Silver CLICK HERE TO READ.

Also released! SILVER PRICE SOARING ON SQUEEZE: $50 Price Target Just Issued But Look At This Surprise CLICK HERE TO READ.

Also released! Greyerz – Macleod Is Right, There Is NO LIQUIDITY IN LONDON And Bullion Banks Are Short 100 Million Ounces Of Silver CLICK HERE TO READ.

Also released! Robinhood Silver Traders May Break The Comex And Serious Hurt Bullion Banks CLICK HERE TO READ.

Also released! Central Banks Created Niagara Falls Of Printed Money And Debt, Gushing Chaotically All Over The World CLICK HERE TO READ.

Also released! NO SILVER LIQUIDITY IN LONDON: This “Could Destabilize All Gold & Silver Contracts” As Reddit Silver Short Squeeze Continues CLICK HERE TO READ.

Also released! REDDIT TRADERS TARGET SILVER: Man Who Oversees Nearly $160 Billion Says Silver May Be Poised To Skyrocket CLICK HERE TO READ.

© 2021 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.

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Anonymous Coward
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02/04/2021 04:59 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
manipulated...... GLD = Paper GOLD
would be Fraud But, THEY make the 'Rules' damned
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02/04/2021 05:18 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
It may very well go to 0 as people find that there is no gold backing these paper certificates but physical gold can not be printed by the ton...
 Quoting: Zoloti Varota 78248515


actually,
we live like a dream.
(PLANETARY, MULTI,...our daily life)
is the reality existential?
b0n question..
and
WHAT IS IT?
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02/04/2021 05:35 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
It may very well go to 0 as people find that there is no gold backing these paper certificates but physical gold can not be printed by the ton...
 Quoting: Zoloti Varota 78248515


actually,
we live like a dream.
(PLANETARY, MULTI,...our daily life)
is the reality existential?
b0n question..
and
WHAT IS IT?
 Quoting: beau voir


BOOM

they feel or have a feeling of what may come or come HAND HOLDING...
to return it to ALL PEOPLES?

yes, against?
the floor is yours! XXXXX!
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TerraFirma's Esoterrorist

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02/04/2021 05:38 PM
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Re: Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets
Never bring short paper hands to a long silver fist fight.

The Lone Ranger Cavalry has arrived.
High HODL Silver away...



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Last Edited by TerraFirma's Esoterrorist on 02/04/2021 05:39 PM
"Keep a weather eye to the chart on high and go home another way"

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GLP