In the last few years the gold price has experienced some significant swings and if you look at the current price you would assume both gold and silver was in the depths of despair. However, as the Comex price declined physical buying has exploded. The U.S. Mint has seen record buying and the Perth Mint reported a surge in retail demand. As demand surged premiums rose to reflect the lack of physical gold available.

The U.S. Mint has sold over 100,000 American 1 oz. gold coins in July, the highest monthly recording since April 2013 and there is one week of the month remaining.

There now appears to be a real disconnect between the Comex driven spot price and the physical gold market. With The Peoples Bank of China reporting a 600 ton increase to their reserves and mints running dry, how is it possible that the gold price is declining?

Chris Powell, who has spent the last 16 years researching possible manipulation concludes. It is not clear who is manipulating the precious metals markets, but it is very apparent that the Comex driven paper price is divorced from reality.