Loading ...The comex gold sell off is all paper driven as the record physical buy continues
Analyzing comex data since the price roller coaster began last Friday (Oct 17) indicates that paper shorts flooded the market at record high volume driving the price down. December contract OI dropped as paper longs folded. However, physical gold bought on the October contract continued at a sizzling record pace. Two large players emerge from being somewhat dormant, BofA and Morgan Stanley house accounts, and bought much of the physical gold.