This week’s manufactured takedown in the gold and silver markets was right on cue as we move toward the implementation of Basel III at the end of this month, while bullion banks remain trapped heavily short.
June 18 (King World News) – Eric King: “Alasdair, ahead of Basel III with the bullion banks trapped short they had to make a move and the move was to the downside. So unwind gold, unwind silver and get the hell out of as many paper shorts before the implementation of Basel III.”
Alasdair Macleod: “This has been a real problem for the bullion bank traders for some time now. If you go back to the last days of February last year, they bashed the market way lower. They quickly took the gold market down $200. They managed to get the open interest reduced from near record levels close to 800,000 open contracts. They ended up getting the open interest lower, but they didn’t close their short positions. Then they ended up with a gold price that took off to over $2,000. And…to listen to Alasdair Macleod discuss this week’s takedown in the gold and silver markets and what to expect next CLICK HERE OR ON THE IMAGE BELOW.
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