It's just a routine shakedown...
(Note: Early last week, I posted the upbeat item below when gold was in the throes of a nasty, two-week decline. In case you missed it because it was behind GoldenMeadows’ paywall, my comments precisely caught a low that has given way to a so far $70 rally.)
I’ve just updated the December Gold tout below to reflect today’s punitive selling in gold and silver. Remember that this is just a quasi-criminal shakedown that allows Players to cover short positions in precious metals. The positions are carry-trade hedges that provide fat cats with a nearly riskless source of free money. They work so hard at rigging bullion markets because it can cost $50,000 or more per night to anchor a yacht in Monaco, and even more for certain ‘extras’.
Rick Ackerman