Market Sentiment shifting

CFTC data shows hedge funds added more long positions in Gold.

According to the CFTC's weekly Commitment of Traders data up to April 19 released on Friday speculators once again added to long positions to reach 21.9 million troy ounces or 682 tonnes.

At the same time speculators cut their short positions which saw net longs positions grow to 18.8 million ounces. That figure is the highest since August 2012. Overall managed money position has swung more than 660 tonnes since end-December's record net short.

Pretty silly they talk about tonnes when it is just paper Gold that weighs almost nothing. Sure sounds like a big bluff to me

Speculators are net short the US$ for the 1st time since last May. I think the dollar index will have to drop below 93 to trigger the down move they want.

We also have the long speculative long position in Gold. A short couple day rally in the US$ and the same couple day drop in Gold would come as no surprise.

Else we will need some significant negative news on the US economy or Stock market to trigger a US$ break down

www.reuters.com/article/us-markets-forex-cftc-idUSKCN0XJ2MS ?

Comex open interest on April 19th at 503,331 contracts, the highest since 2012, so for sure new players/buyers in the market

ycharts.com/indicators/comex_gold_futures_open_interest

Funds getting very long and bullion banks very short. At levels we have seen the market taken down in the past. Will this time be different

What a joke, the CFTC did not even know about the Deutsche Bank news that they admitted to manipulation gold and silver and several other banks were involved

Or maybe the CFTC just does not want to acknowledge it?

This is from GATA: """""Receiving no response, on Tuesday, April 19, your secretary/treasurer sent by facsimile machine a letter to the office of the chairman of the CFTC, Tim Massad, reading: "As I am unable to get any acknowledgement from your commission's press office, could you answer my questions here? Does the commission have any reaction to Deutsche Bank's admission to manipulating the gold and silver markets, as reported by various news organizations last week? Is the commission responding to Deutsche Bank's admission in any way? As you may recall, some years ago the commission reported that it had investigated the silver market and had found nothing improper. Is the commission reconsidering that conclusion? Thanks for your help."

Having received no acknowledgment of that letter as well, yesterday Friday, April 22 your secretary/treasurer telephoned the CFTC's press office and within a half hour of leaving a message received a cordial call back from an assistant to the director. He said he was unaware of the Deutsche Bank story and could find no reference to it in the commission's compendium of news reports of interest to the commission's work.

Your secretary/treasurer conceded that the story is being largely suppressed by Western financial news organizations and sent him the links to the Reuters and Bloomberg stories as well as a link to the original complaint in the class-action lawsuit. He said he would consult his superiors and hoped to reply to me next week.

Of course all this gives the impression that the CFTC not only doesn't know what's going on in its jurisdiction but also that it doesn't want to know.""""""""
www.gata.org/node/16404

I think the news about silver and gold manipulation helped silver jump ahead.

China will continue to influence the Gold price more so. The Shanghai Gold Exchange launched the Shanghai Gold Benchmark Price auction on 19 April 2016.

www.bullionstar.com/blogs/ronan-manly/sh...ce-new-sge-gold-fix/

Another good article on Deutsche Bank etc. with Macquire at king world news. Maybe they are trying to get off easier by ratting on the others, what a bunch of crooks!!!

kingworldnews.com/whistleblower-andrew-m...est-in-the-gold-war/

Another article about the Banksters

Deutsche Bank AG, the Bank of Nova Scotia, Barclays, HSBC, Societe Generale, UBS AG and other reputable Western banks have recently been accused of manipulating gold and silver prices, futures, options and other derivatives for years.

Remarkably, on April 14 Deutsche Bank admitted the fact that it had been involved in the conspiracy together with other members of a "cartel" and agreed to name the names in the US federal court.
"We expect that now that DB [Deutsche Bank AG] has 'turned' that much more curious information about precious metals rigging will emerge, and will confirm what the 'bugs' had said all along: that the precious metals market has been rigged all along," financial blog Zero Hedge reported on April, 14.

sputniknews.com/analysis/20160419/103826...n.html#ixzz46bVEIoQc

Dam the Banksters, probably more piddly fines, why not through some of these crooks in jail.

I am going to put a post up on the silver thread as well. There has been a class action lawsuit started in Canada against the Banksters for silver manipulation.

business.financialpost.com/legal-post/ca...r-price-manipulation

Not much in the main stream about this but the NY Post reported about Deutsche Bank's confession to gold and silver market manipulation and its pledge to incriminate other banks.

Just as we all expected and knew

nypost.com/2016/04/16/investors-make-gol...on-of-metals-market/

Good peice by Richards in the Telegraph. Chinese are buying because they can't dump all thei US$ but they know US has to inflate it's way out of $19 trillion debt. He estimates China has at least 4,000 tonnes. not the 1,788 they report.

www.telegraph.co.uk/business/2016/04/17/...ur-monetary-system1/

The Chinese are biggest or #1 in almost everything, only a matter of time before it is the Gold pricing market, they are already the big kid on the block in the physical market
www.reuters.com/article/china-gold-fix-idUSL3N17G2W4