GOLD 0.51% $1,391.7 gold futures

russians throw in the towel lol

  1. 2,063 Posts.
    Well kiss my Kremlin, the Russians won’t be selling 50 tons of gold this week after all!

    Forbes reports only two days after the original ‘leak’ that Russia has postponed its imminent gold sales;
    http://www.forbes.com/feeds/reuters/2009/10/27/2009-10-27T122517Z_01_LR374011_RTRIDST_0_GOLD-RUSSIA-POSTPONEMENT-UPDATE-2.html

    Its hat’s off to the Russian Bozo’s who have effectively proven that the IMF aren’t the only clowns in the gold manipulation circus ring. One does wonder if they really managed to buy much additional physical gold? One of Bill Murphy’s best insider and trusted sources on the international gold market has revealed some shortages for gold buyers at the big end of town;

    http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=8134

    “This same source says he has recently added two American clients, one a very wealthy individual and the other a large corporation, with instructions to execute major physical gold purchases. His source told Murphy that he is having extreme difficulty locating any sizeable quantities of physical metal to fill the orders.”

    My intuition on the above situations is that the Russians may well indeed be one of the international ‘hitmen’ that Jim Willie has reported are arranging to try and remove what gold the COMEX actually has as these ridiculous prices. See his essay about the coming ‘busting’ of the COMEX written in May this year; http://www.321gold.com/editorials/willie/willie052809.html

    If instead of buying physical metal that the market is telling us isn’t really available anyway, the Russians may have bought over the last couple of days a large number of the reduced price call options being sold by say the gold bullion banks in the dip partially created by the above ‘leaked’ Russian plan to sell gold. Could these contracts then be presented next week with the demand to deliver the physical metal?

    I quote from Heller again;

    “If the spot price at the close of trading on the day that gold (and silver) options contracts expire is higher than the contract price on a call option, the owner will exercise the option to demand immediate delivery of physical gold.”

    Lets see how this one plays out…



 
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