Alasdair Macleod: Bullion Banks Continue Massive Short Covering In The Gold Market – Ottawa Bullion

The Swaps (bullion banks) have cut their shorts by a further 9,107 contracts, reducing their net shorts to $21.5 billion in money terms. You will recall that on the 5 January it was $42 billion, so this is some reduction. This number had to be got down, because if had risen further there is little doubt that the risk of a market failure would become a real possibility.

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