Loading ...speculated that the banks have raided GLD and SLV for the metal – what little they had left there anyway. Also heard that Blackrock had taken a hefty stake in PSLV, likely to take convert to physical there as well.
Sinclair always said the banks would be long gold in the end.
What if the banks intend to take delivery of the gold at the Crimex? What would that look like? They added 25% of their total long positions at the Crimex in one week. Usually, they just sort of balance out whatever the funds are doing – that’s odd to me.
Seems either they intend to take all those long positions and dump them on the market to create a massive paper selloff or what??
Gold was pretty much flat on the week, which also seems odd given all the action in the futures market. Suddenly there’s over 516K contracts out there.
Maybe maddog or aurum or Capt. Hook or someone who really understands that market can shed some light?