Been a few comments on this thread about what is going to happen to POG. I took particular note of 2 comments below from the keynote address at the Denver conference last week (link in an earlier post to the replay).
”A. COMEX is close to blowing up and B. Physical gold is in short supply including in London”
These comments suggested to me we may have a breakout in POG and POS sooner rather than later since the chances of a short squeeze look like a relatively high probability. Then over the weekend I noticed a few podcasts suggest something along similar lines. One commentary suggested shorts were covering every time POG gets over $2,500 over the last month and then we had the spike in POG late last week. Others were noting swap dealers shorts have significantly reduced in both gold and silver over the last few months.
Then this link suggested bullion banks are hurting from their short exposure.
None of this suggests POG is going down but I am no expert about COMEX, shorts and levels of physical gold availability- so make your own interpretation.
SPR Price at posting:
$1.37 Sentiment: Hold Disclosure: Held
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