While gold is smashed down, repatriation from the Federal Reserve Bank continues. For the first time since decades, we go below 6000 tonnes.
And on a side note, remember when we talked about leverage of paper gold against physical gold? We are at it again. When we look at the COMEX stock, we notice that registered gold is at record lows again, while the paper gold is at record highs. Resulting in this second spike.
The first spike was in 15 January 2014, which was a bottom in gold price. I believe this second spike will give us a second bottom in gold price soon.