Behind the Scenes Glimpse At The War On Gold & Silver

“Open interest is up, particularly for silver, but both gold and silver prices are stuck near support.  The price of gold has hardly moved over the past week, and remains in a narrow trading range on either side of $1280.  Normally one would expect to see a rise in price with the jump in open interest like this, particularly given that both precious metals are in areas where there has been good support as a result of physical buying.

 

We know the new short positions are not coming from momentum players because there is no downside momentum, nor are the gold miners adding to hedge positions.  So that leaves the usual culprit, the central planners.  They are obviously worried about gold and silver running away to the upside from all their money printing, so they have drawn a line in the sand around $1290 and $20.85.

 continue reading at kingworldnews.com

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