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Desperate pounding of gold futures isn't discouraging buyers, Macleod tells KWN
5:06p ET Saturday, November 9, 2019
Dear Friend of GATA and Gold:
Something very strange is happening in the gold futures market in New York, GoldMoney research director Alasdair Macleod says in an interview today with King World News.
That is, the number of contracts is exploding even as the gold price is falling, indicating enormous buying despite the falling price.
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Bullion banks, Macleod says, are desperately trying to pound the gold price down, probably acting for governments. The pounding may indicate financial trouble at the bullion banks or trouble in the German banking system or at Deutsche Bank particularly, according to Macleod.
"Under normal circumstances," Macleod says, "you do not get a sharp decline in the price with record volumes with record open interest developing on the fall unless" the price "has already fallen a long way and we're seeing a last-gasp inflection point, but that is not we've got at the moment. We're in a bull market and this performance is peculiar."
Macleod's interview is posted at KWN here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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