Kaye: “This is unusually high volume of trading in gold and silver in Asia. We have already traded about 45,000 contracts and it’s still very early in the trading day. But as I said, that’s unusually high volume.
The suppression of the metals, which became pretty intense during US trading on Friday, has continued in the very thin Asian trading. So this is a pretty interesting setup. It’s clear that wherever they want to push the price of gold and silver they are not done yet….
“I’m not sure what their target is, but we are starting to see a bit of a fight break out now between the bulls and teh bears. The battle is getting joined by major players. There was evidence of a very large sovereign buyer at the fix in London on Friday. So there was major interest for physical gold at levels roughly $40 higher than where we are at the moment.
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