Ted Butler: Bad news, good news

Section:

5:55p ET Tuesday, June 9, 2009

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler reports that gold and silver are now bearing their largest commercial short positions on the Comex since last summer, a new level of market concentration as three or fewer U.S. banks now hold the most concentrated short position in Comex gold in history. Butler appeals for precious metals investors to write to the new chairman of the U.S. Commodity Futures Trading Commission, Gary Gensler, to seek action against this. Butler also concludes that the commercial shorts seem much readier to try to suppress the gold price than the price of silver and he speculates that they are hoping to drag silver down with gold. Butler's commentary is headlined "Bad News, Good News," and you can find it at GoldSeek's companion site, SilverSeek, here:

http://news.silverseek.com/TedButler/1244574104.php

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

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