April 20, 2024

Gold and Silver News & Headlines for November 7

Mother of All Short Squeezes for Gold

More and more people are putting together this string of factors and coming to the same conclusion:

1.) the price of physical gold and paper gold have disconnected
2.) instead of paying huge premiums for physical gold, just take delivery from the COMEX.
3.) the COMEX does not have nearly enough gold to cover open contracts.

Gold Hedges Fell 2.3 Million Ounces in Third Quarter

Gold miners hedge book is down to 16.5 million ounces from 29.1 million ounces a year earlier and 41.5 million ounces in the third quarter of 2006.

Equities and Commodities Tumble – Gold Decoupling

Equities and commodities seem to be growing increasingly correlated, while gold seems to be decoupling from both.