”Someone or somebody is selling ‘paper gold’ short, but the word is that actual gold, the metal, is actually becoming scarcer. My guess is that the Fed is trying to put pressure on gold by having somebody (Goldman?) sell paper gold short. If so, the Fed is failing in its battle to keep a lid on gold. It can’t be a fluke that gold futures are down every night, regardless of what gold did during the day.
Remember, the Fed wants to keep news of rising inflation under wraps. How to do it? Manipulate the CPI, and keep a lid on the price of gold.
Gold, being very international, is out of the clutches of the Fed. Gold bullion, the actual metal, is becoming scarce. Everyone wants actual real gold in their possession!
In April and early May, gold purchases in India were so strong that the finance minister complained that India’s hunger for gold was so strong that it was widening the trade deficit.”
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