by Turd Ferguson
TF Metals Report
Gold prices remain firm today…with the exception of the $5 drop at the London PM Fix…and they remain at a critical juncture. Price needs to extend higher here but total Comex open interest is back above the 500,000 level and, if recent history is any guide, that’s not a good sign.
Let’s start with the open interest numbers for yesterday as they were exactly as expected. On the $19 price surge, you knew that The Banks were in there, desperately attempting to keep things in check. To that end, The Criminals issued another 13,553 contracts of Comex gold yesterday.