Gene Arensberg: Shorts covering, battered miners mum

Section:

2p ET Monday, October 27, 2008

Dear Friend of GATA and Gold:

In his new "Got Gold Report" at Resource Investor, Gene Arensberg reports that the large commercial traders in silver are now the least short in silver on the commodities exchange than they have been in years.

Arensberg adds that the commodities exchange price is now so artificially low, the product of manipulation by just one or two huge traders, that metal has begun to flow out of the exchange and into the retail market to exploit the much higher price of real metal on real markets. That is, Arensberg writes, the futures market has lost all connection to the real market.

And he chides the mining industry for remaining silent in the face of the manipulation.

This is a "Got Gold Report" for the ages and you can find it at Resource Investor here:

http://www.resourceinvestor.com/pebble.asp?relid=47362

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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