Gold Shortages So Bad the Spot Price is Meaningless as Premiums Reach 30-40%!

• Gold shortages so bad the spot price is meaningless as premiums reach 30-40%! 
  by http://www.secretsofthefed.com/ 
  When investors and the general public realize that the U.S. based Comex spot price for gold and other precious metals is a meaningless indicator, then demand for the monetary metals may eventually skyrocket as they are predicted to do after this Sunday’s vote in Switzerland over a gold referendum and return to the gold standard.  But until then, only major buyers of the metals know the dirty little secret that could be worth thousands or millions of dollars to the quick.
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  And that is, gold shortages are now so great that premiums for large purchases are upwards of 30-40% above the manipulated spot price that issues daily from the Comex and from London.
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  “It is interesting to note that benchmark gold-dollar swap rates have recently traded negative, meaning investors are paying to borrow gold. This is unusual as gold is traditionally used as a source of collateral for cash financing…. [A] number of factors may play a role, such as excess dollar liquidity or an increased demand for collateral on the back of the global regulatory developments.” In short a gold shortage at the institutional, read commercial and central bank, level. And not just a shortage but the biggest shortage in history, judging by today’s latest plunge in the 1 Month GOFO which just dropped to -0.5% and , worse, 1 Year GOFO that just hit its lowest print in the 21st century, and is also about to go negative: something that has never happened before further suggesting the gold shortage could go on for a long, long time! – Zerohedge 
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