from Arabian Money:
Bullion banks have massively scaled back their short positions in gold and silver during the recent price crash and are now well positioned to profit from a rally in precious metal prices, according to the latest TF Metals Report.
It concludes: ‘The Bullion Banks have now reduced their net liability in gold by over 75 per cent and, in silver, by over 83 per cent… all since the game-changing announcement of QE last September’. This has been an eight-month unwinding program with the last phase being the price manipulation and crash in April.
Silver shorting has crashed from 7,350 to 1,297 tonnes. Gold shorts are off from 737 to 184 tonnes. That is an amazing turnaround. The short position overhang has almost gone.
Please follow SGT Report on Twitter & help share the message.