Mosul battle (16); selling gold a oneway street?

1-9-17    http://www.reuters.com/article/us-mideast-crisis-iraq-mosul-idUSKBN14T17Q

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1-9-17    http://www.france24.com/en/20170108-iraqi-forces-reach-tigris-river-first-time-battle-mosul

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170108-world-iraq-mosul-tigris-1012_c4c686511c5b7d7c1eb7f5088d5350ab.nbcnews-ux-2880-1000.jpg-An Iraqi man carries his children near the town of Bartella as people return to their liberated neighbourhoods in eastern Mosul, Saturday. DIMITAR DILKOFF / AFP – Getty Images  http://www.nbcnews.com/news/world/iraqi-forces-reach-east-bank-tigris-mosul-iraqi-officer-n704406

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401f7e9e93a8012cf332ea47a801579abb4eb1c2.jpg1-8-17     https://www.yahoo.com/news/suicide-bomber-kills-least-11-baghdad-market-071807707.html

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“Selling gold is not a one way street”, wrote Green in 1987. But guess what. Since a few years – from the moment China became an elephant player in the physical market – selling gold is a one way street! Western sell-offs are transhipped to China but do not return. The global gold game has changed.

cross-border-gold-trade-uk-china-world

Exhibit 10.

The consequence is that there are less above ground reserves outside of China for Western investors to buy in a forthcoming bull market, which will elevate the dollar bid per unit gold – in other words the gold price measured in US dollars per troy ounce.  http://www.zerohedge.com/news/2017-01-07/how-west-has-been-selling-gold-black-hole

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