ML-Implode News - How They Capped The Gold Price Rise In Brexit

As turmoil shook the global markets, gold shot higher and, at one point, was up nearly $100. However, within hours it had given back nearly half of those gains and then spent the remainder of the day in am unusual and very tight trading range while virtually every other "market" was rocked with volatility throughout the trading day... The all-important question of the day is: How and why was this done? ... What does the data show? On Friday, with global markets in turmoil and precious metals markets rallying significantly, The Bullion Banks on the Comex issued brand new supply of nearly 60,000 new paper gold contracts!
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Did the world's gold producers all suddenly decide to forward sell and hedge 186 metric tonnes of future production yesterday, just as the most significant economic event in eight years was beginning to unfold? OR: Did the Bullion Banks suddenly put up a few million ounces of their own gold and then lever it up a few times and issue 60,000 new contracts based upon this collateral deposit? Obviously, the answer to both questions is a big, bold NO!
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Without this added supply...which grew total open interest by over 10% in one day!...how much further would the paper price of gold have risen yesterday?

See this linked piece on physical shortage in the large-scale physical gold market in the week leading up to Brexit.

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How They Capped The Gold Price Rise In Brexit