Relevant:
- INSIDER TRADING AND FINANCIAL TERRORISM ON COMEX
- Phantom Gold Inventories: Has The Comex Already Defaulted?
- CFTC - Managed Money Short Positioning High for Gold, Silver
- Ed Steer: Gold Shares Rallying; Concentrated Gold/Silver Shorts Continue To Decline
- Butler, Steer - Silver and Gold ETF Shorts Explode As Price Suppression Rages On
2013-04-15 — zerohedge.com
Gold futures with a value of over 400 tonnes were sold in hours and this is equal to 15% of annual gold mine production. The scale of the selling was massive and again underlines how one or two large banks or hedge funds can completely distort the market by aggressive, concentrated leveraged short positions.Â
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Those with concentrated short positions may also have been concerned about the significant decline in COMEX gold inventories.
The plunge in New York Comex's gold inventories since February is a reflection of increased demand for the physical metal and concerns about counter party risk with some hedge funds and institutions choosing to own gold in less risky allocated accounts.
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