Q: Gold price rise is very unrealistic. How can the price of a metal go up like this. I think manipulators are driving up gold prices. We should stop trading in gold futures at COMEX. ?
A: Mans People think, that the COMEX is the Place, where the Gold Price is manipulated heavily. But Not on the Long - side. It's a fact, that 2 Banks are responsible for nearly all Short positions on Comex. One is Jp Morgan, acting obviously for the FED because they increase their Short positions steadily to prevent Gold prices to climb on 2.000 USD Level, this would be no help for financing new dept around 12% of GDP. But FEDs problem is that too many people know about FED Situation of having NO GOLD Reserves. According to official Export Statistics, the US have now Exportes all the gold, which is officially in their 8100 to Reserve. John Paulson has invested billions of Dollars into physical Gold this Year - and Mr Greenspan is an advisor for Paulsons Company... Gold is from à fundamental Point of View far Away from beeing expensive: Cash Costs are around 4-500 USD, and total costs including Exploration, financing, Mine Building are around 700-850. Compared to Oil, Gold has a clearly bettet Price/ cost Ratio. Best regards, Andreas