GOLDBUGS AMEX Goldbugs Index (GOLD): According to 2 articles I have just read...

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Re: al44 post# 10516

Monday, 02/09/2009 7:58:27 PM

Monday, February 09, 2009 7:58:27 PM

According to 2 articles I have just read(I posted one here), it seems the largest banks have substantially increased their gold shorts at the COMEX. Many believe that they will rig the markets so those shorts stay in the money, thereby driving gold down possibly as much as $200 an ounce. Ok, so maybe it happens. What kind of backwardation will arise from a paper POG of $650? How many long holders of contracts will then demand delivery? Help! I'm stimulating my brain and it hurts, LOL.

.............al

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