Bullion banks have been using the takedown in the gold and silver markets to cover shorts, plus look at this shocking inflation chart.
May 20 (King World News) – Bullion banks have been covering large numbers of gold and silver short positions. The updated charts below cover the action through Tuesday.
Bullion Banks Cover Large Number
Of Gold Short Positions
Bullion Banks Cover Massive Number
Of Silver Short Positions
Fred Hickey noted this regarding the latest report: Today’s COT report for gold (as of Tues.) is extremely bullish. Managed Money (mostly hedge funds) net long futures contracts plunged 30% on the week to a net 43,360 contracts, lowest level of the year and below late-Jan. level, just before gold soared $260oz to a near-record high.
More “Transitory” Inflation
Holger Zschaepitz: Good Morning from Germany where inflation pressure keeps rising. PPI jumped by 33.5% in April year over year, the highest increase ever since the start of the statistic in 1949 because price increases following the Ukraine war now taking full effect. Energy prices as a whole were up 87.3% year over year.
TRUE INFLATION LEVEL IS SHOCKING!
German Producer Price Index Soars
33.5% Higher Year-Over-Year!
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