Gold Plunge, Who’s Responsible, Who’s Buying & What’s Next?

Friday, October 11, 2013
By Paul Martin

KingWorldNews.com
October 11, 2013

On the heels of another smash in gold and silver, for the second day in a row the CEO of a prominent mining company sent King World News the following note regarding exactly what caused the smash in gold. The note also describes who is behind the plunge, as well as who is on the other side of the trade, buying gold.

The following note is from Tim Gardiner, who is Managing Director at TD Securities:

“In a deja vu of yesterday, another large sell order hit the electronic futures (we think approximately 800,000 oz), send gold from $1,285 to under $1,260 in quick order. We have since stabilized in the mid 60′s but it appears that deep pocketed speculators may have decided that shorting gold is the “trade de jour”. Gold volume is up 1% and gold interest rates up 50 bp as the short positioning increases….

The Rest…HERE

Leave a Reply