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Gold Newsletter's Lundin chides market manipulation by big commercial shorts
Gold Scores Biggest Quarterly Gain in Nearly 30 Years
By Myra P. Saefong
MarketWatch.com, New York
Thursday, March 31, 2016
Gold futures settled higher Thursday, scoring their best quarterly performance since 1986 -- a year when "Top Gun" was the most popular movie.
Bullion has benefited as the Federal Reserve’s dovish stance on policy has softened the highflying U.S. dollar. ...
"Gold's early-year rally began to lose momentum as March wore on, primarily due to profit-taking and a very large accumulation of short positions by the large commercials segment of paper-gold traders on Comex," said Brien Lundin, editor of Gold Newsletter.
That "massive" commercial short position -- a wager that prices will fall -- is currently the "primary impediment" for the gold market, he said. Commercial traders use futures to hedge price against risk tied to their businesses.
"If past form holds true, some of the large entities in the commercial category will hit the market hard with sell orders to drive the price down and collect on their short positions," said Lundin. ...
... For the remainder of the report:
http://www.marketwatch.com/story/gold-headed-for-best-quarter-in-nearly-...
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