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Donshub2

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Donshub2

Re: None

Tuesday, 02/10/2009 9:11:48 AM

Tuesday, February 10, 2009 9:11:48 AM

Post# of 33753
For those who are about to buy gold should read this.

According to this report and the bank participation index banks are shorting gold more than ever.

U.S. banks hold a RECORD short position in COMEX gold futures of 111,190 contracts (over 11 million oz). an increase of 28,690 contracts from the January report.

http://news.silverseek.com/TedButler/1234207643.php
http://www.cftc.gov/marketreports/bankparticipation/index.htm

Looks like gold could go down to $700 or more going by the past history of shorting by these banks.
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