More Chinese Influence
Chinese buying the heck out of GLD, gold ETF's and then redeeming them for GOLD! This could create a massive short sqeeze in Gold as most suspect the ETF's are leveraged with paper gold to real gold at 50-100X. This could be huge upside for gold
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“The Asians, particularly the Chinese, want physical gold and they want it tomorrow. So the Chinese have a new method. They are now planning to buy tremendous amounts of the ETF GLD. They will then tender the GLD shares for immediate delivery of the gold. This bypasses all of the rules of places such as the Comex limiting delivery. There is no limit as to how much you can buy from the ETF GLD"
https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/2/7_KWN_Source_-_Expect_Massive_Chinese_Gold_Buying_Using_GLD.html