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Thursday, February 18, 2010

IMF Gold Sales Only Less Than A Quarter Of Daily Volume At Comex

One quick fact about the IMF gold sales -which is not happening or it is going to be bought by a large central bank- is that the volume of the sale at 191 tons is less than a quarter of the roughly 800 tons on a slow day traded on the Comex in a day (a lot of it on the sale side coming from the Fed and some of the big banks which have tens of billions of shorts and are getting hurt badly every day gold price continues its rise). You do the math in terms of how even if the sale did happen it would affect the price of gold and for how long. Gold is massively undervalued and is persistent about getting that value by breaking the chains the Federal Reserve has been putting on it illegally. Almost like the Likens revolting against the Vampires. :) Or Conan the Barbarous Relic getting his freedom from the evil bloodsuckers. :) 

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