Swiss Gold Refiners Say Gold Demand Hasn’t Been This Strong Since 2013

kingworldnews.com

Today London whistleblower and metals trader Andrew Maguire told King World News that Swiss gold refiners are telling him that gold demand hasn’t been this strong since 2013.

Swiss Gold Production Massively Backlogged
 
June 22 (King World News) – Andrew Maguire:  “The Dollar Index to foreign exchange gold conflict is reflective of a paper to physical battle, and given the absolute certainty that the physical kilobar market (as Swiss gold refiners have told me) is now backlogged 2 months out and extending
 
Andrew Maguire continues:  “All Swiss refiners are now fully booked out on all gold kilobar production until the end of July. Also, there is reliable feedback that China has been quietly forward purchasing (large) tonnage of refinery production since May and utilizing spot index positions to settle at delivery. With refinery order books now full for 2 months out, each day gold stays below $1,300, more tonnage orders are spot-indexed for delivery. And with order books already full, this backlog was already threatening to extend out into August.

Swiss Refiner Says China Just Ordered More Tonnage
 
But one Swiss refiner just reported to me that a Chinese order of 15 tonnes of gold hit today. This definitely pushes out the Swiss backlog into August. For this time of year and out of season that is unprecedented…