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TF Metals Report: JPM will take December delivery, so gold is about to rally
1:23a AEST Thursday, October 31, 2013
Dear Friend of GATA and Gold:
The TF Metals Report's Turd Ferguson says the latest gold futures market report from the U.S. Commodity Futures Trading Commission shows the major U.S. banks strongly long going into the December delivery month, with most of the bank long position likely held by JPMorganChase.
Ferguson writes: "As we've clearly established over the past few months, price is raided only during delivery months where JPM is issuing deliveries. In August, when JPM was taking delivery (stopping), price rallied. Since JPM is clearly not going to be issuing in December, should we expect a rally? Absolutely! This is why I've been telling you for weeks that price would bottom again in mid-October and then rally through the end of the year. This latest bank participation report, though dated and stale, nonetheless confirms this forecast."
Ferguson's analysis is posted at the TF Metals Report here:
http://www.tfmetalsreport.com/blog/5201/101-bank-participation-report
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Jim Sinclair Plans Seminar in Florida
Gold mining entrepreneur and gold advocate Jim Sinclair plans to hold his next financial seminar in Kissimmee, Florida, near Orlando, on Saturday, November 2. Details can be found at his Internet site, JSMineSet, here:
http://www.jsmineset.com/2013/10/22/florida-qa-session-announced/
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Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080...
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