'Owners Per Ounce' of Gold at the Comex

The trend of the 'owners per ounce' on the Comex is climbing as the amount of paper bets increases and the ounces of gold bullion for sale at these prices decreases.

There is more than sufficient gold in private hands to satisfy the demands of the increasingly paper leveraged Comex. Just not as these prices perhaps, despite the heavy handed attempts to knock the open interest out of the hands of the longs.

Gold Daily and Silver Weekly Charts - No Soup For You

The fingerprints of the Exchange Stabilization Fund and their Banks, presumably JPM and Citi, were all over the markets today, from commodities to equities.

Stocks were rallied hard off the bottom, as some fearless buyer stepped in and sparked a short covering rally.

Gold languished, but silver managed to take back the 15 handle at least.

Have a pleasant evening.

 

SP 500 and NDX Futures Daily Charts - Have No Fear, Buy the Dip

They came in selling, but someone took the bull by the horns and bought the dip in stocks as they were threatening key support.

Who that might be who can say.

But it might be useful if we could have a peek into the operations of the Exchange Stabilization Fund, aka 'The Plunge Protection Team.'

But one thing we have discovered in the past. Not all dips are created equal.

Have a pleasant evening.