GOLD 0.51% $1,391.7 gold futures

Some very, very big banks have thousands of short contracts on...

  1. 320 Posts.
    Some very, very big banks have thousands of short contracts on Gold. Since middle of March, Goldman Sachs as an example has covered something like 5,000 short contracts - from over 14,000 to now below 9,000. If Gold wasn't going to go up, why would they be covering so many short contracts? Possible manipulation of the price - one has to wonder how long they can go with all the fundamentals. Gold will catch up - when the Euro was around this level - Gold was $1030. It flew too high, too fast, so technicals might still need time to settle and moving averages to rise to attract new, more confident speculators.

    Patience is a killer, but a quality we need right now.
    Just my opinion from things I've read over the last month, but if and when we knew something was for certain we'd all be rich.
 
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