Mar
9th
Tue
9th
GATA Appeals to CFTC on Concentrated Gold Shorts
Gold bugs rejoice! GATA (Gold Anti-Trust Action Committee) appeals to CFTC to act against manipulative shorts:
GATA has evidence that there are enormous physical short positions in the gold and silver markets that cannot be covered. Because of the decades-long interference with the gold market, we estimate that the free-market price of gold is multiples of the current price. Growing stress caused by burgeoning physical bullion demand is threatening to lead to a price explosion, which will restore to the market the balance that regulation has failed to maintain. In our view, the Comex paper market will become dysfunctional, with “force majeure” having to be declared as the concentrated shorts are unable to deliver on their obligations.
