''There is a great deal of evidence of Chinese buying of gold. But I would like to point out that one of the more offensive things that was released last week was the GFMS study suggesting that physical gold demand in the second quarter was down 7%.
Those guys (at GFMS) have been providing misinformation for years. They have also missed so many of the major issues in the gold market. They didn’t get the gold leasing by the central banks back in the 1990s. So they were missing demand to offset the leasing.
They didn’t get the Chinese buying that’s been going on for the last decade. So these guys just basically churn out negative gold news constantly, and I would ignore them.''
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