from King World News:
Maguire: “Eric, usually when you and I speak the precious metals are under pressure and we take a look to see what to expect. This week is a whole different story. And we saw the first ratchet of a coiled-spring being set off. This was catching huge synthetic naked short positions unaware. And before we get ahead of ourselves, we need to look at where we are in the bigger picture…”
“It’s always better to understand where we’ve been and why it (market action) is happening. In December it’s par for the course to see gold and silver sold along with the window dressing that we see in other markets. But up until Thursday, these trend-following hot money funds were once again positioned for an end of quarter flush. ”
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