CFTC reports continue to show that net long positions in gold are being liquidated. Nineteen tonnes were shed in the latest reporting period on Comex. Long-silver specs unloaded 210+ tonnes from their logbooks and added 110+ tonnes to short positions.
The weakness seen on the Friday Comex close continued in Asia when gold fell to as low as $1,640.50/oz. prior to a slight bounce on European trading. While gold fell 1% on Friday, bullion still managed to record a 1.7% weekly rise in dollars and gains in other currencies.
Suddenly financial repression is everywhere. Apparently there's no escaping it. The forced imposition of real losses on savers, aimed at cutting the real value of government and banking debt, financial repression has become a hot topic for analysts and hacks alike.