something brewing with cot figures, page-7

It is also very interesting that Goldman Sachs is long gold (& silver?) on TOCOM (public info). It makes you wonder whether this is simply because cost of carry is cheaper in Japan for contango (unlikely these days with low US interest rates) or they see an implicit counter party risk with US futures clearing houses so they only go short gold(silver) in US... giving them a long Japan clearing short US clearing position... or they are just long gold/silver TOCOM (US side just client generated) and the US clearing short position is mainly JP Morgan. If this is what GS are actually doing, it is very very scarey.

Watch the JP Morgan CEO... if they really do have a scarey gold/silver position, he will bail beforehand, and when he does this will be the timing of when gold & silver will spike as the shorts are unwound.