Holy smokes. That's the equivalent of buying half of the Crimex inventories. Where the heck does that kind of Gold come from considering Western Central Banks have dramatically cut back on their accord Gold sales? Massive borrowing from ETF Gold stored in London? I doubt the metal came from the US because all they seem to have left in the cupboard are a few Fed melt bars from the 1930s.

At any rate I figure the Saudis must be really pissed off with the Wall St guys who have sold off paper Oil to extremes, despite very positive supply demand dynamics, and have retaliated in kind by buying Gold in large quantities. If the price of oil doesn't move substantially higher soon, then I expect the angry Saudis will demand more Gold & set their sights on cleaning out the CRIMEX vaults beginning in the December delivery month.

In a nutshell these dynamics make for an explosive rally in PMs beginning very soon now that Gold cycle turn dates are due shortly. Gold should test $1,000 for the 3rd time before Santa comes and Silver always goes along for the ride.