Death Of Paper Gold Picks Up Speed BIG TIME Today
By Steve St. Angelo, SRSrocco Report
GoldSeek.com
Sunday, 6 March 2016
The Death of the paper gold market picked up speed today as Blackrock announced that issuance of new Gold IAU ETF shares was suspended. However, it’s much worse than the information in news release when we factor in the total supply and demand situation.
According to the article on Zerohedge, BlackRock Suspends ETF Issuance Due To “Surging Demand For Gold”:
BlackRock’s Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world’s largest asset manager has made a significant decision:
•*BLACKROCK SAYS ISSUANCE OF GOLD TRUST SHARES SUSPENDED
• *BLACKROCK SAYS SUSPENSION DUE TO DEMAND FOR GOLD
Now, why is this so interesting? Because, this now suggests a tightness in the paper gold market due to the last several years of surging physical gold demand…. especially now that China has recently become an “official” Central Bank buyer of gold.
If we look at the increase in Blackrock’s iShares IAU ETF gold inventories, they have increased 1.2 million (Moz) in the first 2 months of the year:
The Rest…HERE
