Now, having said that, I believe - as do several others, so my view is far from unique - that we have seen a transition in the dynamic of the precious metals market in which the sheer global demand for physical gold/silver has largely taken over the ability of U.S.-Anglo banks to manipulate prices lower using paper gold (Comex/LBMA futures/forwards). See this essay for clarification on Comex manipulation: LINK
The original thesis for this idea, at least of which I am aware, was put forth by GATA over 10 years ago. One of the best datapoints for monitoring global physical "off-take" is to watch the very visible import premiums being paid in the eastern markets (India, China, Viet Nam). The easiest way to keep track of this is to subscribe to the Midas report at http://www.lemetropolecafe.com/ to access "JB's" global market commentary. This is from his report that will be in tonight's Midas:
AM $3.83, PM $6.53, with world gold at $1,364.14 and $1,358.16. Ample, and lavish, for legal imports...local Shanghai gold closed at a premium of $16.55 to world gold of $1,361.95...local Vietnam gold stood at a premium of $40.35 to world gold of $1,362.57These observed premiums are very high right now, especially for China and Viet Nam, indicating the high probability that these markets are voraciously buying physical gold (and silver).
This is not to say that we won't experience manipulated market corrections, like the one underway in which the gold cartel has engaged in massive short-covering at the expense of "hot money" speculators who piled into the paper market recently. But in general I think we can expect to see the illegal manipulative activities of the western bullion banks - aided and abetted by the regulators who look the other way (CFTC/Gensler) - sharply curtailed by the power of eastern market forces...got gold? Better get some while you can.