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Who shorted gold after fed’s announcement last week?
Eric deCarbonnel
Market Skeptics
Tuesday, March 24, 2009
Open interest in COMEX gold increased by 1,209,600 ounces in the two days following the fed’s announcement last week. Can anyone explain to me who in their right mind would short gold following the fed’s plan to double its balance sheet?
|
Date |
OpInt |
|
|
12/5/2008 |
263295 |
|
|
12/10/2008 |
261001
|
|
|
12/26/2008 |
290765 |
|
|
1/27/2009 |
354159 |
|
|
2/17/2009 |
355377 |
|
|
2/20/2009 |
358829 |
|
|
2/24/2009 |
369132 |
|
|
2/25/2009 |
372697 |
OpInt steady |
|
2/26/2009 |
373339 |
OpInt steady |
|
2/27/2009 |
376482 |
OpInt steady |
|
3/3/2009 |
367342 |
OpInt steady |
|
3/4/2009 |
365271 |
OpInt steady |
|
3/5/2009 |
366226 |
OpInt steady |
|
3/6/2009 |
369979 |
OpInt steady |
|
3/9/2009 |
373397 |
OpInt steady |
|
3/10/2009 |
375875 |
OpInt steady |
|
3/12/2009 |
369763 |
OpInt steady |
|
3/13/2009 |
376596 |
OpInt steady |
|
3/17/2009 |
375090 |
OpInt steady |
|
3/18/2009 |
376237 |
fed’s announcement |
|
3/20/2009 |
388333 |
two days later |
388333
376237 minus
12096 increase in Open Interest (1,209,600 ounces)Conclusion: Attempts to suppress gold prices are now obvious and desperate. The game will soon be coming to a close.
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