The Phaserl


Rehypothecation Nation: Gold Spikes To 3-Month Highs

from ZeroHedge:

It appears the same ‘contagion’ that is driving copper prices higher is also impacting gold and silver this morning. As we have noted previously, the CCFD unwind drives synthetic short (hedge) covering and inevitably rolls down the curve to drive spot strength (as the paper gold market tail wags the ‘physical’ market’s dog). Gold is at 3 month highs and silver getting close.

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