"This modest dollar weakness is doing very little for PMs - even as Copper and Oil rebound from their week-lows. We suspect the continuing selloff in Gold and Silver is due to the ever louder liquidation/redemption rumors at you-know-who."
You know who would be Paulson and co. This was a theory that we speculated about about a month or so ago.
I'm closing GLD related positions as a rumor is just as dangerous a the real thing and Paulson is down about 50% on his fund with the only profitable position being GLD. If they are getting massive redemptions, then that's going to be the only way to fill them.
As I showed on SLV, the 10 min negative suggested a drop, not a belly flop, so these rumors are becoming reality, not going to fight the tape here and now.
5 years ago
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