Paul Mylchreest: Standoff in gold between speculators and price-suppressing banks

Section:

3:09p ET Monday, July 25, 2016

Dear Friend of GATA and Gold:

Market analyst Paul Mylchreest of ADM Investor Services International in London --

https://www.admisi.com/

-- writes in the firm's Equity & Cross Asset Strategy letter today that there's a standoff in the gold futures market between the bullion banks and speculators; that the banks appear to have increased their naked shorting of gold to contain the price, anticipating that they will smash the price, panic the speculators into selling, and cover their shorts, as they often have done; but that there were three episodes during gold's bull market from 2001 through 2011 when this tactic of the banks failed and gold "went parabolic."

Mylchreest adds that speculators in recent months have been "far more resolute."

Mylchreest's letter is headlined "Gold Futures -- Critical Days in the Battle (Not the War)" and with his kind permission it's posted in PDF format at GATA's Internet site here:

http://www.gata.org/files/MylchreestReport-07-25-2016.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/



Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

AttachmentSize
MylchreestReport-07-25-2016.pdf759.48 KB