Today might be the day for what GATA and gold bugs have been waiting for. Today on 28 November 2008 is the report period for the December contract at COMEX.
In normal times, this day might have passed as any other day, but in this era of interventions and manipulations, the contracts on the short side of the trade are much more of what can be delivered.
Thus shorts would look to get out of the trade in case the normal percentage of 2% of people asking for the phyiscal delivery rises dramatically and leads to a spectacular rally in the gold prices.
It has long been known and accepted that COMEX is no longer insync with the phyiscal gold prices in the market, thus GATA and other gold bugs have long been on the crusade to prove the interventions by the PPT - plunge protection team. Today might turn out to be their salvation day, a momenet when people would know - THERE ARE NO FREE MARKETS!
Look out for probable fireworks tonight (IST) at COMEX.
Markets: Commodities & Asia
1 day ago