Friday, COMEX, and Gold

79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭


In his recent SeekingAlpha article, Alasdair Macleod restates what we should now all know to be true …

However, when looking at short-term considerations, we should look at motivations as well. And those clearly are the profit to be made by banks dealing in the paper bullion market, which they can simply overwhelm by issuing short contracts out of thin air. This card has been played successfully yet again, with the bullion banks first creating and then destroying nearly 100,000 contracts, lifting the profits from hapless bulls in the Comex market.

SO WHAT HAPPENED ON FRIDAY?

Usually COMEX is able to crush the price of gold on COMEX open. Is this a sign of things to come? While you are thinking about my question, checkout the COMEX infographic by BullionStar


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