Loading ...About those COT’s – I’m with both of you.
China probably is helping. I hope it is to accumulate metal at lower prices and not to keep the fiat game alive on their side of the pond. If they have no intention of backing their currency with gold, I’m not sure I see the reason for accumulation. Heck, Canada is just fine not holding any.
Mr. Copper – agree. Those numbers cannot be trusted. Even if they are real there’s no way of knowing who the funds are and if they are adding longs because they are betting on higher prices. They could just be arms of the Cabal, buying on the fund side to dump on the market.
In other news, that was a pretty big crack in the FANG and Nasdaq stocks yesterday. Wondering if that is the beginning of a larger correction coming. Thing is, pm’s did not react favorably to the downturn.
We continue to wait.
MCLEAN, VA- July 11: Alana “Honey Boo Boo” Thompson attends the “How to Honey Boo Boo: The Complete Guide” Book Event at the Barnes and Nobles on July 11, 2013 in Mclean, Virginia. (Photo by Kris Connor/Getty Images)