Wednesday, January 11, 2012

Concentrated Positions Have the Ability to Manipulate Markets

CFTC Commissioner Bart Chilton: “Concentrated Positions Have the Ability to Manipulate Markets”.

Here Bart Chilton outlines the possibility that entities with large short positions, especially in silver, are able to manipulate the price of commodities. He also issues a veiled warning against those that portray these events as a 'time to buy' as these people are often just peddling their gold and silver bullion businesses. I agree. However, the CFTC is looking closely at regulations against these large short positions which may send the price higher when enforced as the shorts attempt to cover their positions (ie buy back silver to give back to the lenders)

Sorry for the short blog today, but I have been working hard on getting my wife's Raw Food Seven Day Program up and running. It should be ready to go public in about two weeks. nothing like a dose of good health to go with finances!

Gold in New Zealand dollars: $2064.04 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $37.75 per oz
Previous all-time high: $59.19
per oz (30 Apr, 2011)

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