ALASDAIR MACLEOD: A VICIOUS BEAR TRAP IS SET IN GOLD & SILVER ON COMEX!
SilverDoctors.com
JANUARY 10, 2014
There are two main indices tracked by commodity tracker funds: the S&P-Goldman Sachs Commodities Index and the Dow Jones UBS Commodities Index.
According to S&P Indices (which manages both), total assets estimated at $155bn track these two indices, of which $75bn tracks the former, and the balance of $80bn the latter. Both indices are rebalanced in the first two weeks of January starting last Wednesday, andaccording to an S&P press release, this will lead to $1.1 bn extra being invested in gold contracts.
A potentially vicious bear trap is now set in both precious metals on Comex, and unless some liquidity can be whistled up from elsewhere it is difficult to see how this dangerous situation will be reconciled once the traps are triggered without some serious injury for the bears.
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