After speaking to a number of industry insiders and talking to #Gold and #Silver retailers. I realize that the retail physical Gold and Silver market in the West is pretty dead.

It seems that Western #Gold and #Silver retailers (not Costco) have more than enough inventory that they can sell from just buying back #Gold and #Silver inventories from their customers. This is the same for Kitco HK, they are simply not buying a lot of new inventory from the mints and distributors.

On the other hand, central banks around the world, China and India retail are buying up all the physical Gold. Industrial players from both China and India are buying up all the physical Silver.

While this is happening, the U.S. is slapping tariffs on Gold and Silver from Canada and Mexico. This will speed up the drain of LBMA non Canada and Mexico originating Gold and Silver bars. 

Even without Western retail participation (and I think they will participate if Gold and Silver break out), I think the LBMA COMEX paper games will soon break.
#Gold #Silver #Gold #Silver