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Politics : Welcome to Slider's Dugout
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From: SliderOnTheBlack6/24/2005 6:54:21 PM
   of 50403
 
re: Comex Shorts Capping POG:

Central Banks have oversold the Washington Agreement:

...Next 90 days should be interesting for Commercial Shorts ~

mineweb.net

SUPPLY IS TIGHT
<quoting Tocqueville's John Hathaway:

"Even though trading houses in New York and Europe seem to find plenty of paper gold to trade in a knee-jerk fashion according to the news of the day," Hathaway insisted that physical gold supply "is extremely, extremely tight." The shorts on the CFTC indicate 757 tonnes of supply or one third of annual gold production, he said. "It's short because Central Banks have oversold their allotment under the Washington Agreement," he added.

To maintain an allocation of 500 tonnes, Central Bank flow is going to drop by 25% over the next three months, Hathaway projected.

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