from King World News
Despite the large commercial short positions, the price of gold and silver continue to remain firm. Today James Turk told King World News that the turnaround in the gold market is definitely because of shorts scrambling to cover.
James Turk: “They did it again, Eric. I can’t count the number of times the precious metals over the past several years have been smashed going into option expiry…
[…] The gold price dropped yesterday in the US trading and this morning here in London to as low as the central planners and shorts could force it. The result was that calls on thousands of ounces of gold – which only a week or two before were in the money – expired worthless.