Monday, August 19, 2013

JP Morgan surprised their gold price manipulation no longer effective in forcing prices down

In last weeks publication of Flow’s & Liquidity, JP Morgan noted that the rise in gold prices appeared to be tied to numerous hedge funds that were dissolving their GLD ETF holdings to go long in OTC derivatives as gold prices begin to rise due to higher demand.  These actions have led the bank to desperately seek physical gold for delivery from multiple sources such as HSBC and Scotia Mocatta, and are revealing the end game consequences of their years of forcing down paper gold prices in the market.

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