You are here
Alasdair Macleod: Feb. 5 gold smash failed and gold outlook has improved
11a ET Thursday, February 11, 2016
Dear Friend of GATA and Gold:
With characteristically British understatement, GoldMoney research director Alasdair Macleod writes today that the outlook for gold has "improved." He notes that the February 5 smashing of the gold futures market with the dumping of 10,000 contracts failed quickly.
Macleod writes: "Of course we don't know who the seller was, but he will be nursing some serious losses. If it was the U.S. government's Exchange Stabilisation Fund, the cost won't matter; what would matter is that an attempt to put a cap on the gold price was a dismal failure and merely exposed a major change in market sentiment, from extremely bearish to growing bullishness. This is backed up by increasing open interest on the Comex market, a clear indication that a rising gold price is no longer driven solely by the closing of short positions but new buying is now driving the market."
Macleod's commentary is headlined "Gold Outlook Improves" and it's posted at GoldMoney here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Buy precious metals free of value-added tax throughout Europe
Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.
Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.
Visit us at www.europesilverbullion.com.
Join GATA here:
Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China
Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore
Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
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:
To contribute to GATA, please visit: