http://www.forbes.com/sites/greatspeculations/2011/11/18/blame-the-imf-for-the-big-drop-in-gold/?partner=yahootix This may well be why the markets dropped yesterday. I suspect that the IMF doesnt "sell" gold it just returns it to the Central Banks that lent it in the first place. Over the years there has been a huge market for lending gold by the Central Banks to the bullion banks who then hedge on the open market and in doing so keep the price of Gold depressed. This has resulted in a huge "short" position that has to be covered. The only way I can think that the shorts can cover is for the IMF to sell them this gold. SO THE IMF ISN'T REALLY SELLING GOLD IT IS ALLOWING THE BULLION BANKS TO COVER THEIR SHORTS AND RETURN THE GOLD THEY BORROWED TO THE CB'S. This news might be sufficient to knock the market but not for long. IN THE MEAN TIME NEITHER THE IMF OR CENTRAL BANKS OWN SILVER and that could be a big problem as we enter the December delivery month.
7/2/2018 03:54:20 am
This news will not last for long time and gold buyers will make use of it well.
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