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Chris Martenson: An unapocalyptic explanation for negative GOFO
2:24p ET Saturday, August 24, 2013
Dear Friend of GATA and Gold:
Market analyst Chris Martenson writes today that negative gold forward offered rates (GOFO) may be less an indicator of imminent defaults in the gold market than a product of a record-low London Interbank Offered Rate (LIBOR) combined with increased hedging (and futures shorting) of gold by mining companies. Martenson says he isn't disputing that gold supply may be tight but rather disputing suggestions that the apocalypse has arrived for the gold market. His commentary is posted at his Internet site, Peak Prosperity, here:
http://www.peakprosperity.com/discussion/82709/pm-end-week-market-commen...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Jim Sinclair plans Westchester County seminar Sept. 4
Mining entrepreneur and gold advocate Jim Sinclair plans a gold investing seminar from 1 to 5 p.m. on Wednesday, Sept. 4, in Tarrytown in Westchester County, New York. For information on attending, please visit his Internet site, JSMineSet.com, here:
http://www.jsmineset.com/qa-session-tickets/
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