Will be really interesting to see if the manipulators can break the $ 1350 an ounce resistance for gold. If they fail to do this and gold bounces to new highs this will signal that the manipulators are in a pond that has become to big for them, i.e the rest of the fish have ganged up on them.
It is interesting that a similar situation happened last year with regards to the super high March contracts this year. Last December the contracts were considerable and they were short as usual by and large. In the months leading up silver spot kicked? I am not sure how this would have worked as it seems to have went against the common trend of spot following the futures price. Funny the futures price spooks everyone around the world to track it, what a way to manipulate the price of silver. Anyhow, it didn't seem to work late last year. People are anticipating the same will happen this March. People expecting silver to kick in February? The manipulators are desperately attacking gold to indirectly effect silver. JPM have probably worked out that the silver market has become to small to attack directly now. Will they be successful?
As for the CFTC, yeah they are in the pocket of the banks.
CCU Price at posting:
63.6¢ Sentiment: Buy Disclosure: Held
