Gene Arensberg: Gold, silver short positions grow still more concentrated

9:22p ET Monday, December 8, 2008

Dear Friend of GATA and Gold:

Resource Investor's Gene Arensberg discloses tonight that the commercial short positions in gold and silver have gotten even more concentrated in the last reporting period. Three banks or less are responsible for 67 percent of the commercial short position in gold, while one or two banks are responsible for 99 percent of the commercial short position in silver. This data is from the U.S. Commodity Futures Trading Commission itself -- the agency that recently wrote to gold and silver investors, asking them to produce any evidence of market manipulation. As silver market analyst Ted Butler and others have remarked, all the CFTC has to do in regard to market manipulation is explain its own data.

Arensberg's report is headlined "'On the Fly' Gold and Silver COT Information" and you can find it at Resource Investor here:

http://www.resourceinvestor.com/pebble.asp?relid=48524

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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