Tuesday, July 5, 2016 at 12:14 pm
Since writing this report on June 25, The Banks have surged total Comex gold open interest by another 22,000 contracts or 3.5%, all in a desperate attempt to contain the "price" of gold below the post-Brexit highs.
The purpose of this update is to once again highlight the tenuous and desperate situation of The Bullion Banks. These Banks are trapped short in Comex paper gold derivatives and they are clearly attempting to contain/restrain price below $1350 and the post-Brexit highs near $1360. How do we know this? Check the chart below: