by Martin Baccardax
Judging from futures and alleged jewelry demand, the price of gold ought to be falling. But it isn’t. Let’s explore what’s happening with the price of gold and why.
The above chart is courtesy of Barchart. The anecdotes are mine.
In the futures world, for every long there is a short. Contracts net to zero.
The commercials are producers who sell their gold and the broker-dealers who are hedged.