It was a nasty day on COMEX. My opinion: Nothing to do with the Dow. Nothing to do with oil. Nothing to do with the end of QE. The banks square up on days like this (long physical and OTC derivatives-short futures). But the COMEX price makers have been caught long and are very unhappy.
What has caused this situation? There is too much physical gold in the hands of the price makers. (That will go down like a lead balloon! I better put my helmet on.)
