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Gene Arensberg: Comex commercials covering gold shorts in a hurry

IMG Auteur
Chris Powell
GATA
Published : March 29th, 2014
105 words - Reading time : less than a minute
( 3 votes, 3.7/5 )
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Category : GoldWire

Gene Arensberg's Got Gold Report today discloses a huge amount of short-covering in gold futures by commercial traders. Arensberg writes:

"From what we see here and in the positioning of the U.S. banks in futures from last month we have to believe that the gold trade now expects and is positioning for a higher, not a lower gold price in 2014. The sudden, overly large reduction in the producer/merchant gross shorts this commitment-of-traders week is kind of an earthquake in that regard."

Arensberg's commentary is headlined "Comex Commercial Traders Covering Gold Shorts in a Hurry" and it's posted at the GGR Internet site here:

http://www.gotgoldreport.com/2014/03/comex-co...s-covering-g...
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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