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Powerful contra-indications for gold from whistleblower Maguire and GGR's Arensberg
12:34p PT Friday, February 22, 2013
Dear Friend of GATA and Gold:
London metal trader and silver market whistleblower Andrew Maguire today tells King World News that Eastern central banks have used the recent smashdown in gold to acquire hundreds of tonnes and that the smashdown is actually a "bubble short position" likely subject to a "violent" reversal. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/22_Ma...
Meanwhile over at the Got Gold Report, Gene Arensberg notes the recent big reduction in gold holdings by the exchange-traded fund GLD and finds that the four most recent big reductions in GLD holdings were quickly followed not by a "death cross" apocalypse but by rising gold prices. Arensberg's commentary is posted in the clear at the Got Gold Report here:
http://www.gotgoldreport.com/2013/02/huge-gld-metal-reduction-scary-buyi...
And market analyst Al Jolson's outlook has been posted at YouTube here:
http://www.youtube.com/watch?v=vtkhJ1xqw2o
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
How to profit in the new year with silver --
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Join GATA here:
California Resource Investment Conference
Saturday-Sunday, February 23-24, 2013
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