The gold bull ... it's over ... it's over ..., page-177

Hi there Yummy

Posting on HC shouldn't be about winning and losing. It should be about exchanging ideas and learning things that may help us make good decisions when trading and investing.

I am in the camp that thinks that there is a surplus of physical gold in the wholesale market. This is held by banks who have hedged the price risk by selling futures. The upshot is that the Comex traders have been caught long in a falling market. The selling we are seeing isn't shorting. (There should be short covering rallies.) The selling is coming from traders trying to get rid of positions that have become hot potatoes.

This will continue until end buyers steps up to the plate in either the physical or futures markets. I don't know at what level that will happen.

All the best and good night.