from King World News
With the price of gold briefly breaching the $1,800 level today, a nightmare for gold shorts is now unfolding.
Breakout for gold
Quarter-day effects
June 30 (King World News) – Alasdair Macleod: Ahead of quarter days, bullion banks and market makers, who are almost always short of gold and silver futures, like to manage lower prices by triggering speculators’ stops and hopefully, for them, to get prices sliding. Their books look more profitable, and dealers’ bonuses are secured. The fact that all bullion banks do this at the same time makes their position usually unassailable.