http://harveyorgan.blogspot.com/2013/05/gold-inventory-at-gld-drops-againroller.html
Wednesday, May 22, 2013
Gold inventory at the GLD drops again/Roller coaster ride for gold and silver/comex registered gold remains at its low point 1.668 million oz/ Ted Butler delivers a huge commentary on who he believes is receiving all of GLD/SLV inventory/Bill Holter on derivatives/
Gold closed down $1.20 to $1376.60 (comex closing time). Silver rose by 2 cents to $22.46 (comex closing time)
In the access market at 4:30 pm, gold and silver are trading at the following prices :
gold: $1366.80.
silver: $22.27
Gold was on a tear last night just breaching the $1400 dollar barrier once Comex opened. Silver followed suit climbing to $23.00. As soon as those nice round numbers appeared at the comex opening, the bankers went to town, knocking gold down to $1382.00 and then silver was trampled down to $22.46
much to delight of our regulators who seem to be co conspirators with our bankers on the manipulation of gold and silver.Within the next few short minutes, as Bernanke was speaking, people interpreted some words as if the "tapering" game is off. Gold then took off to $1415.00 and silver then took out the $23.00 resistance level climbing to $23.36. That is when orders from the Fed came to crush gold and silver and down these two metals went to close as indicated in my opening. The problem we are now facing is that gold and silver are ambushed in broad daylight as the bankers know they will not be punished with the regulators clearly on their side.
At the Comex, the open interest in silver rose by 335 contracts to 148,619 contracts with silver's rise in price yesterday by 13 cents. The silver OI is holding firm at elevated levels . The open interest on the gold contract fell by 6961 contracts to 446,087 . The gold deliveries for May rose a bit today to 9.44 tonnes and this is an off month for gold. The number of silver ounces, standing for delivery in May remained constant standing at 17.235 million oz. ( On first day notice: 14.860 million oz.)
Again, at the Comex, gold is departing as investors are frightened to death of a confiscation similar to what happened at MFGlobal or Refco. Tonight, the Comex registered or dealer gold remains at 1.668 million oz or 51.88 tonnes. The total of all gold at the comex rose slightly but still well below the 8 million oz at 7.961 million oz or 247.6 tonnes of gold.
The GLD reported another huge loss in gold inventory of 3.01 tonnes. The SLV inventory of silver remained constant. The game will end when the last ounce of gold from the GLD/LBMA leaves London's shores for Chinese waters.
Today we have a great commentary from Bill Holter as he tackles the monstrous derivatives underwritten by the big banks and what it will do to the price of gold once these financial instruments burst.
Today, we have an important commentary from Ted Butler as he postulates that the gold and silver leaving the GLD and SLV have their destination the vaults of JPMorgan.
David Levenstein, writing for Mineweb strongly believes that gold and silver are manipulated at the casino-Comex.
The big news of course was the wild roller coaster ride for gold and silver today in the USA. The street is starting to question when the Fed will stop with its QE.
The Dow responded negatively not by the supposed tapering of bond purchases but with the realization that some of the Fed members saw that some of the USA markets are "bubbles". By that, no doubt, they were referring to the Dow and the bond markets.
We will go over these and other stories but first.....................
Let us now head over to the comex and assess trading over there today.
Here are the details:
The total gold comex open interest lowered by 6961 contracts from 453,048 down to 446,087 with gold falling by $6.50 yesterday . The front non active delivery month of May saw its OI rise by 3 contracts up to 1072. However we had 3 delivery notice filed on Tuesday. Thus we gained 6 gold ounces standing for delivery in May or 600 oz. The next active contract month is June and here the OI fell by 12,072 contracts to 174,880 as most of these paper players rolled into August. June is the second biggest delivery month in gold's calender and first day notice is a week from this Thursday as Friday is a holiday. The estimated volume today was huge at 338,947 contracts. The confirmed volume on Tuesday was extremely good at 254,360 contracts.
The total silver Comex OI completely plays to a different drummer than gold. It rose by 335 contracts from 148,284 up to 148,619, with silver's slight rise in price of 13 cents yesterday. The front active silver delivery month of May saw it's OI fall by 65 contracts down to 164. We had 65 delivery notices filed on Tuesday so we gained 0 contracts or no additional oz will stand for delivery in May. The next delivery month for silver is June and here the OI fell by 39 contracts to stand at 394. The next big active contract month is July and here the OI fell by 723 contracts to rest tonight at 80,574. The estimated volume today was huge, coming in at 62,894 contracts. The confirmed volume on Monday was also big at 63,876.
In the access market at 4:30 pm, gold and silver are trading at the following prices :
gold: $1366.80.
silver: $22.27
Gold was on a tear last night just breaching the $1400 dollar barrier once Comex opened. Silver followed suit climbing to $23.00. As soon as those nice round numbers appeared at the comex opening, the bankers went to town, knocking gold down to $1382.00 and then silver was trampled down to $22.46
much to delight of our regulators who seem to be co conspirators with our bankers on the manipulation of gold and silver.Within the next few short minutes, as Bernanke was speaking, people interpreted some words as if the "tapering" game is off. Gold then took off to $1415.00 and silver then took out the $23.00 resistance level climbing to $23.36. That is when orders from the Fed came to crush gold and silver and down these two metals went to close as indicated in my opening. The problem we are now facing is that gold and silver are ambushed in broad daylight as the bankers know they will not be punished with the regulators clearly on their side.
At the Comex, the open interest in silver rose by 335 contracts to 148,619 contracts with silver's rise in price yesterday by 13 cents. The silver OI is holding firm at elevated levels . The open interest on the gold contract fell by 6961 contracts to 446,087 . The gold deliveries for May rose a bit today to 9.44 tonnes and this is an off month for gold. The number of silver ounces, standing for delivery in May remained constant standing at 17.235 million oz. ( On first day notice: 14.860 million oz.)
Again, at the Comex, gold is departing as investors are frightened to death of a confiscation similar to what happened at MFGlobal or Refco. Tonight, the Comex registered or dealer gold remains at 1.668 million oz or 51.88 tonnes. The total of all gold at the comex rose slightly but still well below the 8 million oz at 7.961 million oz or 247.6 tonnes of gold.
The GLD reported another huge loss in gold inventory of 3.01 tonnes. The SLV inventory of silver remained constant. The game will end when the last ounce of gold from the GLD/LBMA leaves London's shores for Chinese waters.
Today we have a great commentary from Bill Holter as he tackles the monstrous derivatives underwritten by the big banks and what it will do to the price of gold once these financial instruments burst.
Today, we have an important commentary from Ted Butler as he postulates that the gold and silver leaving the GLD and SLV have their destination the vaults of JPMorgan.
David Levenstein, writing for Mineweb strongly believes that gold and silver are manipulated at the casino-Comex.
The big news of course was the wild roller coaster ride for gold and silver today in the USA. The street is starting to question when the Fed will stop with its QE.
The Dow responded negatively not by the supposed tapering of bond purchases but with the realization that some of the Fed members saw that some of the USA markets are "bubbles". By that, no doubt, they were referring to the Dow and the bond markets.
We will go over these and other stories but first.....................
Here are the details:
The total gold comex open interest lowered by 6961 contracts from 453,048 down to 446,087 with gold falling by $6.50 yesterday . The front non active delivery month of May saw its OI rise by 3 contracts up to 1072. However we had 3 delivery notice filed on Tuesday. Thus we gained 6 gold ounces standing for delivery in May or 600 oz. The next active contract month is June and here the OI fell by 12,072 contracts to 174,880 as most of these paper players rolled into August. June is the second biggest delivery month in gold's calender and first day notice is a week from this Thursday as Friday is a holiday. The estimated volume today was huge at 338,947 contracts. The confirmed volume on Tuesday was extremely good at 254,360 contracts.
The total silver Comex OI completely plays to a different drummer than gold. It rose by 335 contracts from 148,284 up to 148,619, with silver's slight rise in price of 13 cents yesterday. The front active silver delivery month of May saw it's OI fall by 65 contracts down to 164. We had 65 delivery notices filed on Tuesday so we gained 0 contracts or no additional oz will stand for delivery in May. The next delivery month for silver is June and here the OI fell by 39 contracts to stand at 394. The next big active contract month is July and here the OI fell by 723 contracts to rest tonight at 80,574. The estimated volume today was huge, coming in at 62,894 contracts. The confirmed volume on Monday was also big at 63,876.
Comex gold/May contract month:
We had 1 customer deposit today:
Into Scotia: 57,855.907 oz
total customer deposit: 57,855.907 oz
We had 0 customer withdrawals today:
total customer withdrawals: nil oz
1982 contracts x 100 oz per contract or 198,200 oz (served) + 1054 notices or 105,400 oz (to be served upon) = 303,600 oz or 9.44 tonnes of gold.
We gained an additional 600 oz of gold standing for the May delivery month.
This is extremely high for a non active month.
It is also interesting that the USA produces around 20 tonnes of gold per month
and thus the amount standing for gold this month represents 47% of that total production.
The big June delivery month will surely be exciting to watch judging by the huge demand for gold in May. We will also see if the boys have any trouble servicing the last 1,054 contracts in the May delivery month We have 5 more trading sessions before first day notice. We will also watch what happens with JPMorgan with respect to its customer gold. It remains now at 9.25 tonnes of gold.
May 21:2013
May 20.2013:
Tuesday, May 21st 05:42 PM IST
JOHANNESBURG(BullionStreet): South Africa's largest gold refinery, Rand Refinery, also one of the biggest in the world, said it will refine huge quantities of gold from the US.
According to Rand Refinery's chief executive, Howard Craig, the shipment of unusually large quantities of gold bound for the refinery (worth $1.1-billion) is just business as usual for the company.
He said it is nothing out of the ordinary as Rand Refinery does refining of gold and silver for Africa as well as the conversion of gold from various other countries, such as the US.
The company imports over 200 tonnes of gold per annum and its activities are not necessarily event or country specific," although it does not source any metal deposits from conflict-affected areas, he added.
Craig said the company could not acknowledge or attest to any statistics or facts that had not been provided by the company itself.
The commodity movement was detected in recent United States trade data that showed South Africa's $402-million trade surplus with the US in January had turned into a $689-million deficit by March.
Analysts said moving gold in or out of the country would certainly have to get approval. This would need to be done from an exchange control point of view and would probably be controlled by the Reserve Bank.
They added that it was likely that a client who had invested in the gold futures market had decided to take physical delivery of its gold bars in the US when the contract expired.
The gold is most probably just passing through and bound for markets such as China or India. While there are refineries in North America, gold can be sent to different refineries around the world depending on prices or existing relationships.
One reason to refine the gold might be because there is a premium for a smaller bar sold in the retail industry in India and China.
Business news website Quartz said the US Census Bureau's foreign trade division recorded that 20 tonnes of gold, worth $982-million, left John F Kennedy International Airport in New York for South Africa this year.
http://jessescrossroadscafe.blogspot.com/2013/05/gold-daily-and-silver-weekly-charts_465.html
Intraday commentary here.
Each market operation to keep the precious metal prices lower sends more bullion out of the hands of the western Banks and into stronger hands in the East.
Why would they do this? What is their game plan?
There isn't one. They are just trying to 'muddle through.'
They are doing what they have been doing, and hoping for something to happen before they run out of fuel, and crash and burn.
Or better yet, abandon the plane and passengers, take all the cash they can carry, and bail.
Submitted by Tyler Durden on 05/22/2013 21:33 -0400
May 22/2013
Ounces
| |
Withdrawals from Dealers Inventory in oz
|
nil
|
Withdrawals from Customer Inventory in oz
|
nil
|
Deposits to the Dealer Inventory in oz
|
nil
|
Deposits to the Customer Inventory, in oz
| 57,855.907 (Scotia) |
No of oz served (contracts) today
|
18 (1800 oz)
|
No of oz to be served (notices)
|
1054 (105,400)
|
Total monthly oz gold served (contracts) so far this month
|
1982 (198,200)
|
Total accumulative withdrawal of gold from the Dealers inventory this month
|
10,656.61
|
Total accumulative withdrawal of gold from the Customer inventory this month
| 667,001.01 oz |
We had fair activity at the gold vaults.
The dealer had 0 deposits and 0 dealer withdrawals.
We had 1 customer deposit today:
Into Scotia: 57,855.907 oz
total customer deposit: 57,855.907 oz
We had 0 customer withdrawals today:
total customer withdrawals: nil oz
We had 0 adjustments
The JPMorgan customer vault remains at 297,426.75 oz today or 9.25 tonnes
as there were no transactions
The JPMorgan customer vault remains at 297,426.75 oz today or 9.25 tonnes
as there were no transactions
Tonight the dealer inventory remains tonight at a low of 1.668 million oz (51.88) tonnes of gold. The total of all gold rises at the comex, resting tonight at 7.961 million oz or 247.60 tonnes.
The CME reported that we had 18 notices filed today for 1800 oz of gold.
To calculate the quantity of gold ounces that will stand, I take the OI standing for May (1072) and subtract out today's notices (18) which leaves us with 1054 notices or 105,400 oz left to be served upon our longs.
To calculate the quantity of gold ounces that will stand, I take the OI standing for May (1072) and subtract out today's notices (18) which leaves us with 1054 notices or 105,400 oz left to be served upon our longs.
Thus we have the following gold ounces standing for metal in May:
1982 contracts x 100 oz per contract or 198,200 oz (served) + 1054 notices or 105,400 oz (to be served upon) = 303,600 oz or 9.44 tonnes of gold.
We gained an additional 600 oz of gold standing for the May delivery month.
This is extremely high for a non active month.
It is also interesting that the USA produces around 20 tonnes of gold per month
and thus the amount standing for gold this month represents 47% of that total production.
The big June delivery month will surely be exciting to watch judging by the huge demand for gold in May. We will also see if the boys have any trouble servicing the last 1,054 contracts in the May delivery month We have 5 more trading sessions before first day notice. We will also watch what happens with JPMorgan with respect to its customer gold. It remains now at 9.25 tonnes of gold.
end
Silver:
May 22.2013: May silver:
| Silver |
Ounces
|
| Withdrawals from Dealers Inventory | nil |
| Withdrawals from Customer Inventory | 669,991.76 oz (CNT Scotia) |
| Deposits to the Dealer Inventory | nil |
| Deposits to the Customer Inventory | nil |
| No of oz served (contracts) | 10 (50,000) |
| No of oz to be served (notices) | 154 (770,000 oz) |
| Total monthly oz silver served (contracts) | 3293 (16,465,000 oz) |
| Total accumulative withdrawal of silver from the Dealers inventory this month | 903,273.57 oz |
| Total accumulative withdrawal of silver from the Customer inventory this month | 4,690,008.4 oz |
Today, we had good activity inside the silver vaults.
we had 0 dealer deposits and 0 dealer withdrawals.
We had 0 customer deposits:
total customer deposit; nil oz
We had 2 customer withdrawals:
We had 0 customer deposits:
total customer deposit; nil oz
We had 2 customer withdrawals:
i) Out of CNT: 20,778.63 oz
ii) Out of Scotia: 649,213,13 oz
total customer withdrawals: 669,991.76 oz
ii) Out of Scotia: 649,213,13 oz
total customer withdrawals: 669,991.76 oz
we had 2 adjustments today
i. Out of the HSBC vault: 5009.56 oz was adjusted out of the customer and back into the dealer account.
ii) Out of the JPMorgan vault: 622,282.10 oz was adjusted out of the dealer account and back into JPM's customer account.
i. Out of the HSBC vault: 5009.56 oz was adjusted out of the customer and back into the dealer account.
ii) Out of the JPMorgan vault: 622,282.10 oz was adjusted out of the dealer account and back into JPM's customer account.
Registered silver at : 43.555 million oz
total of all silver: 164.248 million oz.
The CME reported that we had 10 notices filed for 50,000 oz. We have a total of 3,293 notices filed so far this month for 16,465,000 oz. To calculate the number of ounces that will stand in silver, I take the OI standing for May (164) and subtract out today's notices (10) which leaves us with 154 notices or 770,000 oz left to be served upon our longs.
Thus the total number of silver ounces standing in this active delivery month of May is as follows:
3293 contracts x 5000 oz per contract (served) = 16,465,000 + 154 contracts x 5000 oz = 770,000 oz ( to be served) = 17,235,000 oz.
we neither gained nor lost any silver standing for May today. The total standing for silver is still superb for May.
The total amount standing for May in silver represents 51.29% of ANNUAL silver production from the USA
Thus the total number of silver ounces standing in this active delivery month of May is as follows:
3293 contracts x 5000 oz per contract (served) = 16,465,000 + 154 contracts x 5000 oz = 770,000 oz ( to be served) = 17,235,000 oz.
we neither gained nor lost any silver standing for May today. The total standing for silver is still superb for May.
The total amount standing for May in silver represents 51.29% of ANNUAL silver production from the USA
GLD ETF loses another 3 tons today - 18 tons out the door since 5/17 .....
May 22 : 2013
Tonnes
1,020.07
Ounces32,796,277.52
Value US$46.177 billion
May 21:2013
- Tonnes
1,023.08
Ounces32,892,959.74
Value US$44.743 billion
May 20.2013:
Tonnes1,031.50
Ounces33,163,669.76
Value US$44.913 billion
* * *
selected news and views for the PMs.....
Ted Butler believes that the larges purchases of gold and silver (from GLD and SLV) are in reality JPMorgan and maybe one or two other co conspirators. And JPMorgan and friends are holding this gold waiting for the blockbuster move northbound. It is possible, but how are China and Russia obtaining all of their physical gold? The 10 million oz of gold lost by the GLD matches somewhat gold arriving into China. Regardless, the actions of JPMorgan are criminal and their upper echelon should be thrown in jail.
Here is Ted Butler on his theory as to where the physical gold and silver are heading once it leaves London:
(courtesy Ted Butler)
Blockbuster in Gold
|
May 21, 2013 - 1:11pm
This has been one of the worst stretches for gold and silver pricewise in quite some time, no secret there. I have to go back to when silver was in single digits to find a comparable period. The question on precious metals investors’ minds is whether this bad stretch is going to continue much longer. Are the past few months setting the stage for a pronounced rebound in prices or has the tide changed for the worse for an extended period of time? I think the answer can be found in analyzing the following facts.
One of the key considerations in gold has been the redemption of more than 10 million ounces (over $15 billion) since year end from the world’s largest gold Exchange Traded Fund, GLD. That is a major amount of gold and represents around 25% of the entire holdings in GLD (at year end). The gold ETF holds the largest privately held stockpiles of the metal. Consequently it has a pronounced influence on gold prices
It is widely reported that the 10 million ounces of gold that came out of the GLD have been bought by India or China, even though substantiating data is lacking. Let’s only consider the facts that we know. The 10 million gold ounces that came out of the GLD equals roughly 100 million shares of GLD (one-tenth ounce per share). The 10 million ounces that are no longer in the GLD still exist and, therefore, must be owned by someone. We know that the reason the shares were liquidated in GLD was due to the rotten price performance that weighs on metals investors’ minds. This tends to eliminate China as the big buyer; as such buying would cause gold prices to rise, not fall. The shares were sold and metal redeemed because the price went down, largely a self-reinforcing spiral. We know how much was sold and who the sellers were. What we don’t know is the identity of the buyers. There is a good reason for that. The buyers have tried mightily to hide their identity.
I believe that the big buyer of the 10 million ounces of gold liquidated in the GLD was JPMorgan, either alone or with other collusive commercial banks. The same methodology I’ve previously attributed to a potential Mr. Big in SLV (also probably JPMorgan) is at work in GLD. If one (or 2 or 3) big buyers in GLD had merely purchased the 100 million shares that were sold in GLD, that would have quickly pushed the big buyer(s) over the 5% SEC reporting threshold thereby revealing their identity. But by having the gold redeemed out of the trust and the metal being purchased (instead of shares), stock reporting requirements are evaded. A single holder, perhaps working with a few collusive partners, have come to own what is, effectively, almost a quarter of the world’s largest gold stockpile and no one is the wiser.
I’m not suggesting that JPMorgan did anything wrong by intentionally evading SEC reporting requirements. That potential infraction pales in comparison to the real crime. In this crime (actually more egregious in silver than in gold) the crooked bank manipulated gold prices lower, via the usual COMEX price-fixing mechanics, to induce GLD shareholders to sell. This was a planned and executed operation that left no stone unturned.
From late November, the commercials as a whole, bought more than 160,000 net COMEX gold contracts on declining prices, the equivalent of 16 million ounces. When you include what came out of the ETFs and exchange warehouses it adds an additional 15 million ounces. Together that totals 30 million ounces ($45 billion). Options and over-the-counter derivatives transactions could double that amount. This likely brings the total of their purchases to 50 million ounces ($75 billion). This sound like a huge number but it’s quite manageable for these big banks and it represents a small fraction of the total derivatives market. The scope of their purchases is enormous and the bullish implications are staggering.
I believe that JPMorgan and the commercials have come to hate the COT and Bank Participation reporting data because it reveals what they are up to in exquisite detail. Wrong doers prefer to operate in the dark, under rocks. But the one thing the available data shows is that the big buyers on the wicked price decline have been the commercials. On the one hand, I find it deplorable that big banks are allowed to manipulate our markets for their own benefit, making a mockery of our laws and corrupting our regulators. On the other hand, watching JPMorgan and the commercials buy so aggressively in gold and silver only leads to the conclusion that these crooks have a plan for much higher metals prices to come. If, as I contend, JPMorgan picked up at least 20 million gold ounces they shook out from the GLD and elsewhere, a $300 dollar gold rally will net them $6 billion in ill-gotten gains on that position alone. It could be much more if they are more ruthless in creating higher prices. Generally, with these crooks they usually exceed what you think they are capable of.
It appears to me that JPMorgan and their ilk have bought absolutely massive quantities of gold and silver in many different markets. Unfortunately, much of that buying has come as a result of the deliberate and successful manipulation of price in order to force others to sell. I don’t believe that is fair or even legal. Nevertheless the bloodless verdict of the market suggests we are going a lot higher at some point soon.
Here is an update on that $1 billion export of unrefined gold from the USA. Could this gold be coin melt and if so, it is coming form Fort Knox.
(courtesy Bullion Street)
South Africa to refine $1.1 billion worth Gold for US
South Africa's largest gold refinery, Rand Refinery, also one of the biggest in the world, said it will refine huge quantities of gold from the US.
According to Rand Refinery's chief executive, Howard Craig, the shipment of unusually large quantities of gold bound for the refinery (worth $1.1-billion) is just business as usual for the company.
He said it is nothing out of the ordinary as Rand Refinery does refining of gold and silver for Africa as well as the conversion of gold from various other countries, such as the US.
The company imports over 200 tonnes of gold per annum and its activities are not necessarily event or country specific," although it does not source any metal deposits from conflict-affected areas, he added.
Craig said the company could not acknowledge or attest to any statistics or facts that had not been provided by the company itself.
The commodity movement was detected in recent United States trade data that showed South Africa's $402-million trade surplus with the US in January had turned into a $689-million deficit by March.
Analysts said moving gold in or out of the country would certainly have to get approval. This would need to be done from an exchange control point of view and would probably be controlled by the Reserve Bank.
They added that it was likely that a client who had invested in the gold futures market had decided to take physical delivery of its gold bars in the US when the contract expired.
The gold is most probably just passing through and bound for markets such as China or India. While there are refineries in North America, gold can be sent to different refineries around the world depending on prices or existing relationships.
One reason to refine the gold might be because there is a premium for a smaller bar sold in the retail industry in India and China.
Business news website Quartz said the US Census Bureau's foreign trade division recorded that 20 tonnes of gold, worth $982-million, left John F Kennedy International Airport in New York for South Africa this year.
22 MAY 2013
Gold Daily and Silver Weekly Charts - Could It Be Any More Obvious
"First they ignore you, then they laugh at you, then they fight you, and then you win."
Mohandas K. Gandhi
Intraday commentary here.
Each market operation to keep the precious metal prices lower sends more bullion out of the hands of the western Banks and into stronger hands in the East.
Why would they do this? What is their game plan?
There isn't one. They are just trying to 'muddle through.'
They are doing what they have been doing, and hoping for something to happen before they run out of fuel, and crash and burn.
Or better yet, abandon the plane and passengers, take all the cash they can carry, and bail.
http://www.zerohedge.com/news/2013-05-22/they-better-pray-there-no-short-squeeze
They Better Pray There Is No Short Squeeze...
Well, they've finally done it.
As the following chart of the day from Bloomberg shows, as of this week, hedge funds have made "the biggest bet ever"against gold by taking Comex gold shorts to all time highs.
To their reflexive benefit, we will admit, they have managed to push the price of gold lower, not much... but it is lower (whether with the BIS' assistance or not is irrelevant). It is a different question if the price of gold is low enough to reflect such a record bearishness. But the biggest question is what happens if there is a catalyst to launch a covering rally: such as, hypothetically speaking of course, the People's Bank of China were to announce that it has in the past four years in which it provided no updates on its gold holdings (last is as of 2009), accumulated some 2000-4000 tonnes of gold.
Surely, that would be most unpleasant to all those record shorts, and the impact on the price would be most parabolic. Why, all those shorts better indeed pray there is no short squeeze now or any time in the future...
No comments:
Post a Comment