Desperate pounding of gold futures isn't discouraging buyers, Macleod tells KWN

Section:

5:06p ET Saturday, November 9, 2019

Dear Friend of GATA and Gold:

Something very strange is happening in the gold futures market in New York, GoldMoney research director Alasdair Macleod says in an interview today with King World News.

That is, the number of contracts is exploding even as the gold price is falling, indicating enormous buying despite the falling price.

... Dispatch continues below ...



ADVERTISEMENT

Transfer Assets and Own Gold and Silver Coins
and Bars in the Safest Way

GoldCore's mission statement since 2003 has been to protect and grow the wealth of our clients, and given growing monetary, cyber, and systemic risks, it is increasingly important to take delivery or have legal title and outright ownership of fully segregated coins and bars.

On all investment and pension purchases and gold and/or silver coin and bars transfers (from banks, ETFs, and digital gold providers) worth more than $10,000 stored in GoldCore Secure Storage in Zurich, Switzerland, we are now offering Secure Storage for free for six months and the gift of a silver bullion coin -- a beautiful, legal tender, 1-ounce Silver Eagle.

GoldCore does not report transactions to any authority, and safety, privacy, and confidentiality are paramount when we are entrusted with safekeeping of our clients' precious metals.

Please visit GoldCore here for more information about this offer:

https://info.goldcore.com/zurich-gold-silver-storage-goldcore-exclusive-...

Key information regarding GoldCore Secure Storage, our partner vaults and jurisdictions, and storage rates is here:

www.goldcore.com/us/services

For further information, please email the GoldCore team at info@goldcore.com or call our trading desk:

U.S.: +1-302-635-1160

U.K.: +44(0)203-086-9200

International: +353(0)1-632-5010



Bullion banks, Macleod says, are desperately trying to pound the gold price down, probably acting for governments. The pounding may indicate financial trouble at the bullion banks or trouble in the German banking system or at Deutsche Bank particularly, according to Macleod.

"Under normal circumstances," Macleod says, "you do not get a sharp decline in the price with record volumes with record open interest developing on the fall unless" the price "has already fallen a long way and we're seeing a last-gasp inflection point, but that is not we've got at the moment. We're in a bull market and this performance is peculiar."

Macleod's interview is posted at KWN here:

https://kingworldnews.com/alasdair-macleod-11-9-2019/

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

* * *

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