from King World News
On the heels of gold and silver continuing to consolidate recent gains ahead of the release of this Friday’s Non-Farm Payrolls report, which traditionally is used to smash gold, below is a famed short seller’s take on the gold and silver pullback, plus must-see gold, silver and GLD sentiment charts!
“What really drove this correction — besides random noise and positioning of specs in the futures market, who got pressured as prices fell — were a couple factors, IMO. First, I think that Venezuela is puking gold to get cash, in addition to “normal” sellers, and we now have this recurring narrative that the Fed will hike, and maybe more than once. The economy therefore must be getting better (because the Fed knows what its doing, right?).