People Don’t Realize The Imminence Of The Catastrophe We Are About To See (Podcast)

People Don’t Realize The Imminence Of The Catastrophe We Are About To See Podcast from King World News

In a dramatic week, gold and silver rose strongly on a decline of open interest on Comex. These conditions signaled an epic bear squeeze on the bullion banks. In early European trading this morning gold was trading at $1616, up $119 from last Friday’s close, and silver at $14.44, up $1.80 on the same timescale. Volumes generally declined over the week, most noticeably in silver, consistent with an absence of buyers other than capitulating bears.

A notable feature was gold’s April contract running off the board with its last trading day yesterday (Thursday). On preliminary figures, there was an open interest of 58,407 contracts, suggesting that more than normally there are likely to be longs expecting delivery. We will see over the next day or two how that one will pan out.

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King World News

Interviews with market experts from around the world with a focus on precious metals.