Alasdair MacLeod – Bullion Banks in Trouble as Gold Breaks Out, Set to Attack $2,000 Level

from King World News

A battle has been raging in the gold market but today Alasdair Macleod told King World News that bullion banks are in trouble as gold has broken out and is now set to attack the $2,000 level.

The Underlying Battle In The Gold Market

May 14 (King World News) – Alasdair Macleod: Gold has been trading in a narrowing range centred on $1700. The underlying battle was between some resolute speculators (hedge funds) and the bullion banks, who have been short all year. The daily chart below shows the classic month-old pennant formation that has resulted.

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