More Gold Hype: No Escape for Shorts

by Mike ‘Mish’ Shedlock
The Street

Gold is up against major resistance. Can it blast through the $1800 level?

Massive Gold Short Squeeze!?

Via King World News, there is a “massive gold short squeeze” and No Escape For The Gold Shorts according to Alasdair Macleod.

The way to tie it in is to think of what the quarter end means. The quarter end for bullion banks means accounting — it’s the date they will value their positions in the market. Now obviously it suits these guys to keep the price as low as possible for that quarter end date (next Tuesday). And if you have a suppressed gold price, you are going to have a higher gold price afterwards. I think that’s why your reader’s observation makes an awful lot of sense.

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