So Where’s All That Imaginary Gold Coming from and Why?

by Chris Powell

Dear Friend of GATA and Gold:

Gold futures were sold short heavily last week by bullion banks on behalf of central banks, GoldMoney founder and GATA consultant James Turk tells King World News today. That’s why, Turk says, gold is not really “overbought” but rather oversold by the most powerful financial institutions in the world. Turk notes “widespread pessimism” about gold, while adding that the huge short position inspired by central banks makes a “moonshot” at least possible someday. An excerpt from his interview is posted at KWN here:

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