Wednesday, April 19, 2017

Deja vu as traders dump another $3 billion in naked gold shorts following UK's vote for snap elections

Just as with yesterday, it appears that the market manipulators are desperately trying to beat down the gold price as geo-political events continue to dictate the global narrative.  And with 22,000 naked short contracts not being enough to kill sentiment in the gold market on April 18, either the same or some new bullion bank upped the ante with a 25,000 contract short earlier this morning.

In fact today's gold price manipulation occurred shortly after news hit the wire that the UK Parliament had approved Theresa May's request for snap elections, and for Britain to accelerate their plans for leaving the EU.
As totally expected, Theresa May - following a contentious debate - won the UK parliament vote to allow a June 8th snap election by a count of 522 to 13, well above the two-thirds majority needed. 
Opposition leader, Jeremy Corbyn welcomed the poll but accused the PM of changing her mind and breaking promises on a range of issues. 
The result triggers what will be an intense seven-week campaign in which the U.K.’s relationship with the EU will be the focus. - Zerohedge


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