Cnbc And The Gold "Selloff"

I agree that everything is relative. If you talk to the local Coin and Scrap Merchants they will tell you that for every Customer BUYING Gold they have 100 SELLING Gold. Of course I'm speaking in general terms. But when I first read this I decided to ask my local Dealers about buyers and sellers. And those were the numbers they gave me. Now of course most of this is in scrap jewelry, and not coins. The only thing the buyers are interested in are Coins. Mind you the dealers will sell scrap gold, but the buyers are not interested in scrap. Scrap goes to the Refinery on a weekly basis. The Refiner by the way is not taking new customers and is backlogged, as of this present time. So; to the original question, is there a sell off? Well, if you mean are more people selling gold than buying? Then, yes. If you are talking about Paper Gold then obviously there are more Longs than Shorts; and the answer is no. It is an interesting time we are living in. There is more supply than demand of physical gold on "the front lines"; the B and Ms and Jewelry stores. And yet the price is going up.

So? It is still a development that no one else on CNBC has managed. Whether one likes Cramer or not, we can still give the devil his due.