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TF Metals Report: July 19 raid on gold was meant to drain GLD
2:37p ET Sunday, August 2, 2015
Dear Friend of GATA and Gold:
The raid on gold of Sunday night, July 19, was staged by bullion banks to drain more tonnage from the exchange-traded fund GLD to be sent to Asia, the TF Metals Report's Turd Ferguson writes.
"As GLD is a readily-accessible source of instantly available gold," Ferguson writes, "its authorized participant bullion banks are once again redeeming their 100,000-share lots for physical gold from the GLD 'inventory.' That this gold is then utilized to settle physical demand from around the globe is hardly arguable, given recent history."
Ferguson's commentary is headlined "The Gold Raid of July 19" and it's posted at the TF Metals Report here:
http://www.tfmetalsreport.com/blog/7036/gold-raid-july-19
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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