Gold and silver are moving down short term on the pullback...the COMEX activity is the meat of what happens in the gold and silver markets right now...it had nothing to do with fundamentals this week
You cant change supply and demand dramatically in 3 days...no change in demand, no sell off... this is JPMorgan closing short positions
300M oz in SLV..2nd highest sales month for Eagles in last few years...no signs of large supply increase. Fundamentals are fine
COMEX and Morgan controlling this downtrend
CFTC true nature will be revealed after hearings in Feb. Either they will regulate position limits on precious metals to clear absurd number of short positions by one bank - Morgan - or they will do nothing and reveal their hand and useless and meaningless
Sunday, January 24, 2010
Friday, January 22, 2010
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