“The London Bullion Market Association said that the daily cleared trading volume on the London market by its members hit a 12-year high of 900 tonnes — worth $39 billion — in June on the back of ‘strong physical demand particularly from China and India.’ At the same time Swiss gold refiners, such as Metalor, Pamp, Valcambi, and Argor-Heraeus, have enjoyed a boom, melting down large 400-ounce bars from London vaults and reprocessing them into smaller products that are preferred by Asian buyers. ‘The Swiss are running three or four shifts to keep the refineries going non-stop. They’re throwing bodies at it,’ said one senior gold trader.”
http://www.gata.org/node/12938
Related posts:
Pot vaporizer boom leads to secret stoners
Bruce Schneier: The Public-Private Surveillance Partnership
Dutch court finds six coffee shop owners guilty of selling cannabis to non-residents
Drug lords make billions smuggling gold to Miami for jewelry and phones
Contempt of cop, America's defiance revolution
RNC members tackle Foreign Account Tax Compliance Act, or FATCA
Spain's Podemos Backtracks on Aim to Restructure Spanish Public Debt
Officer arrested for stealing jewelry while investigating store robbery
Neglect and decay threaten historic Algiers Kasbah
NSA surveillance reach broader than publicly acknowledged
Newly Hired Detroit Emergency Manager Has Some Financial Issues Of His Own
Crime-Ridden Camden To Dump City Police Force
Raw sewage makes summer swimming hazardous in New York
Asian economies turn to yuan
China fuels Bitcoin surge to record high