all from GATA
"AND ON THURSDAY APRIL 8, BILL MURPHY (AS MIDAS) FOLLOWED UP WITH:
One of the brightest minds I know that is associated with the gold
industry ( in this case, not my former colleague, Frank Veneroso )
told me this morning that his numbers show that there are 10,000
tonnes of shorts out there right now when you add up the totals from
the producer forward sales, OTC participant short sellers, trend
following Comex shorts, gold borrowing shorts and writers of gold
calls.
10,000 tonnes of gold is almost 4 times that of the 1998 mine supply
and is about 1/3 of all the gold reserves in the central banks. My
former associate, Frank Veneroso, who wrote the 1998 Gold Book Annual
came up with an 8,000 tonne number about two years ago. As Frank
thinks there is a larger natural supply/demand deficit than almost
anyone else, it is most likely that he also thinks a 10,000 tonne
number is reasonable right now."
Seems to support my claim that gold should get close to $300 in next
week or so (said it would be two or three weeks about two weeks ago).
Still expecting.
DKT $45.00 or Bust! |
