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Ted Butler speaks with King World News on week's silver, gold action
11:25p ET Friday, September 11, 2009
Dear Friend of GATA and Gold (and Silver):
Silver market analyst Ted Butler, publisher of the Butler on Gold and Silver letter (www.kingworldnews.com/kingworldnews/Butler_on_Gold_and_Silver.html), was interviewed today by Eric King of King World News and reported that commercial shorting in the precious metals has reached a record high. Butler added that he is somewhat disappointed in the U.S. Commodity Futures Trading Commission for allowing such a situation but that the commercials now are speculating as much as anyone else in the market and may have made "a reckless bet." Butler also estimated that Barrick Gold has lost about $10 billion because of its gold hedging program, from which the company retreated this week.
You can listen to the interview with Butler at the King World News Internet site here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2009/...
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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