This Triggered The Short Squeeze That Is Crushing Gold Bears
August 27, 2013
On the heels of another surge in the gold and silver markets, today King World News interviewed a man who is a legend that has been in the business for 43 years. He told KWN that what we are witnessing right now in the gold market is a short squeeze, but he also cautioned that the short squeeze in gold will only accelerate over time. Below is what the legendary 43 year market veteran, John Ing, had to say in this powerful interview.
Ing: “What we are seeing today in the gold market is very technical in nature. Today is an option expiration, and over the past two months there has been a buildup in the demand for physical gold, and this is against the backdrop of an increase in shorts in the derivatives side of the market.
So there is a squeeze going on with an option expiry, and together with the events in the Middle-East, there appears to be a lot more room on the upside than there is on the downside. As you know, each month there is an option expiration, but what we have seen in recent months is a growing demand for physical gold….