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Hedge funds have beaten bullion banks with gold, Macleod tells KWN
12:14p ET Thursday, May 14, 2020
Dear Friend of GATA and Gold:
Hedge funds appear to have defeated the bullion banks in the gold market, GoldMoney research director Alasdair Macleod tells King World News today.
Presenting a price chart showing gold breaking out of a "pennant formation," Macleod says: "Pennants are not infallible, but given that the bullion banks were short before the coronavirus shutdowns in the United States and Europe and all central banks' subsequent promises to accelerate money printing, the fundamentals appear to back a far higher gold price as well."
Macleod's comments are posted at KWN here:
https://kingworldnews.com/alasdair-macleod-gold-breaks-out-set-to-attack...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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